The Municipal Road and Bridge Revolving Fund (MRBRF) is a financing program that provides attractive long-term financing to municipalities for transportation infrastructure projects. Eligible projects include capital improvements to roads or bridges, and associated infrastructure, such as sidewalks. The Infrastructure Bank provides approved borrowers with a below-market interest rate – currently 33% off an independently determined market rate.
The Rhode Island Department of Transportation (RIDOT) is RIIB’s regulatory partner for the MRBRF. For a project to be eligible for MRBRF financing, it must first be placed on DOT’s Project Priority List (PPL), which is produced at least once annually using transparent scoring criteria. Projects are awarded financing based on the order in which they are ranked on the PPL, readiness to proceed, and subject to the availability of funds. To date, the Infrastructure Bank has made $50.7 million in Road and Bridge loans.