This agreement funds a capitalization grant for the recipient's clean water state revolving fund program

The Environmental Protection Agency (EPA) Region 1 awarded $12.78 million to the Rhode Island Infrastructure Bank (RIIB) through the Clean Water State Revolving Fund (CWSRF) program (CFDA 66.458) under a capitalization grant effective October 1, 2025, with a completion date of October 1, 2032. This award funds RIIB's operation of a state revolving loan fund mechanism that provides low-interest financing to eligible subrecipients for planning, design, and construction of water quality improvement and protection projects. The primary product delivered through this award is access to below-market-rate financing for municipalities, water systems, and local utilities undertaking wastewater treatment facility upgrades, stormwater management systems, emerging contaminant remediation, and other water quality management activities consistent with the Clean Water Act.

As of February 2026, RIIB has deployed capitalization grant funds to support the Narragansett Bay Commission's Capital Improvement Program, which addresses wastewater treatment facility improvements and combined sewer overflow abatement in Rhode Island. Through its revolving loan fund structure, RIIB leverages the federal capitalization grant to create a self-sustaining financing mechanism wherein loan repayments generate continued funding availability for future water infrastructure projects throughout the state, ultimately benefiting Rhode Island citizens through improved water quality and public health outcomes.

Activities:the recipients of these funds provide low interest financing to numerous subrecipients. Subrecipient:n/a - all SRF assistance will be provided as loans.outcomes:anticipated deliverables include financing planning, design, and construction of eligible water quality improvement and protection projects. The expected outcomes are to improve and protect water quality and public health. The intended beneficiaries include citizens throughout the state.