EIB loans € 600 million to Sweden tunnel project
By Helen Wright21 December 2010
The European Investment Bank (EIB) has provided a loan facility of up to € 600 million to help finance the construction of an underground railway line in Stockholm.
The Citybanan project - Sweden's largest rail infrastructure project - is a planned 6 km commuter train tunnel under central Stockholm which includes two new underground stations and a railway bridge.
The EIB signed the loan agreement with the Stockholm County Council and the City of Stockholm on 21 December.
Citybanan is an EU priority Trans European Transport Network project and is part of the Nordic Triangle scheme to upgrade road, rail and maritime infrastructure in Finland and Sweden.
The EIB is the banking arm of the EU and is mandated with contributing to the development of EU member states by financing such investments.