The Rhode Island Infrastructure Bank has announced new financing of $19.2 million in drinking water projects for the town of Cumberland and the Providence Water Supply Board.
The infrastructure bank said it has financed more than $400 million in drinking water projects across Rhode Island to date.
Water suppliers are using this money to upgrade and modernize their water infrastructure, including the replacement of lead service lines, through the infrastructure bank’s low-cost financing option.
The Providence Water Supply Board was approved for a $16.2 million loan to replace the 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 gallons annually.
