Using the Rhode Island Treasurer’s Office to Support Economic Growth
Rhode Island Treasurer Seth Magaziner
Rhode Island Treasurer Seth Magaziner will provide an overview of Rhode Island’s new ‘Bank Local’ initiative, which earmarks up to $30 million of state funds for deposit into local banks and Rhode Island credit unions that are making loans to small businesses in Rhode Island.
He will also provide an update on the impact of lending by the Rhode Island Infrastructure Bank. The creation of the Bank was originally proposed by Treasurer Seth Magaziner with a goal of putting Rhode Islanders back to work while energizing the state's clean energy economy.
Since taking office in January 2015, Treasurer Magaziner has worked to strengthen the state’s pension fund, ensuring that all public servants have the dignity of a stable and secure retirement. Under Treasurer Magaziner’s leadership, the Rhode Island Treasury has become a national leader in transparency, developed a fund for green infrastructure projects, and developed a Back to Basics investment strategy to provide better performance and less risk to the state’s pension fund.
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