The European Investment Bank (EIB) is providing the city of Tampere in Finland with a €150 million loan to fund the construction of its first tram line.
Phase one of the light rail project will include the construction a 15km tramway – and a new depot – connecting Tampere’s city centre with the Hervanta suburb and the city’s hospital.
Pöyry, YIT and VR Track aim to complete the first phase by 2021. Phase two, which is scheduled to open in 2024, will extend the line north from the city centre to Lentävänniemi.
EIB vice president Alexander Stubb said: “I am happy to announce today that the EU bank is providing financing for this project. The first tramway line will make everyday life and transportation easier in Tampere.
“It also will make the city greener and transform it into a more attractive and accessible place to live and work, making the whole region more competitive. This underpins the values the EIB stands for.”