Helsinki metro receives €250 million loan from EIB

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A five-year programme to raise capacity, modernise equipment and improve passenger comfort and environmental standards in Helsinki’s metro and express bus networks will be part-financed by the European Investment Bank (EIB).

Under an agreement signed in Helsinki, the EIB will provide up to €250 m to HKL, the Finnish capital’s urban transport company.

The project will be carried out in the years 2011-2016.

It comprises new metro trains, automating the metro signalling system, modernising the metro train depot, renovating metro stations and track and construction work and equipment along a 25 km bus rapid transit route.

“At the European Investment Bank, we are pleased to support this important project which will help reduce road transport emissions, thereby contributing to EU climate action objectives, and also further strengthen the integration and growth of the Helsinki region,” said Wilhelm Molterer, EIB Vice-President responsible for Finland, at the signing ceremony.

Earlier this year, the EIB signed a €450 m loan to the project company Länsimetro, owned jointly by the City of Espoo and the City of Helsinki, for the contruction of a 14 km metro line from Central Helsinki to Espoo.

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