News
23 March 2020
NIB agrees €66m loan for new tram line in Finland's Espoo
In:
Social infrastructure
Region:
Europe
The Nordic Investment Bank and the Finnish city of Espoo have signed a 25-year loan of €65.6 million to finance the construction of the new Raide–Jokeri tram line, connecting Helsinki and Espoo.
The new line will run from Itäkeskus in Eastern Helsinki through a number of suburbs to Keilaniemi in South-East Espoo. The new connection will replace one of the most congested bus lines in the Helsinki metropolitan area with electrified light rail. Construction started in June 2019, and the project is scheduled for completion in 2024.
Approximately 40,000 passengers travel on the existing bus route every day, with the number expected to increase by a further 20,000 by the year 2030.
