Infrastructure Bank Provides $4 Million In Financing For East Greenwich Road and Safety Improvements
View allPROVIDENCE, RI – Rhode Island Infrastructure Bank has closed on a $4 million Municipal Road and Bridge Revolving Fund (MRB) loan for the Town of East Greenwich. The low-cost financing will be used for the construction, rehabilitation, and repair of approximately 12 miles of town roads, as well as sidewalk and drainage facilities work.
“Well-maintained roads are essential to Rhode Island’s communities, businesses, and residents, and we are pleased to provide $4 million in low-cost financing to the Town of East Greenwich so they can more effectively improve and maintain this basic infrastructure,” said William Fazioli, Executive Director of Rhode Island Infrastructure Bank.
“East Greenwich is committed to improving our network of road infrastructure to ensure safe travel for our residents and visitors,” said Town Manager Andrew Nota. “We want to thank the Rhode Island Infrastructure Bank for working with us to obtain this low-cost financing that will allow us to accelerate our road pavement program.”
Paving work will target several major arterial and collector roads townwide, including segments of Frenchtown Road, Middle Road, and South Road.