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Rhode Island Infrastructure Bank finances $19.2 million in projects
The Rhode Island Infrastructure Bank financed $19.2 million in drinking water projects for the town of Cumberland, R.I., and the Providence Water Supply Board. The infrastructure bank has financed more than $400 million in drinking water projects across Rhode Island to date.
Water suppliers are upgrading and modernizing their water infrastructure, including the replacement of lead service lines, by utilizing the infrastructure bank's low-cost financing option.
The Providence Water Supply Board was approved for a $16.2 million loan to replace existing lead water service lines with new copper water service lines. The Cumberland Water Department was approved for a $3 million loan for the construction of two new wells and associated components. The wells will have the capacity to provide up to 470 million gal annually.