Rhode Island Infrastructure Bank has new executive director

PROVIDENCE, R.I. (AP) - The state’s hub for green infrastructure financing initiatives has a new executive director.

The board of directors at the Rhode Island Infrastructure Bank picked Jeffrey R. Diehl for the job, citing his experience in global banking, capital market strategy and public sector finance.

Diehl most recently served as the managing partner of a financial consulting firm and previously held leadership positions at a global bank.

The infrastructure bank is a quasi-public entity and financial administrator of the state’s clean water and drinking water revolving funds.

The bank issues bonds and the proceeds are used to provide low-cost financing to Rhode Island municipalities and sewer and water utilities for infrastructure projects.

Democratic Gov. Gina Raimondo says Diehl is “perfectly poised” for the position.