NIB finances energy-efficient trams for Helsinki

NIB has signed a EUR 60 million long-term loan agreement with Helsinki City Transport HKL, a municipal transport operator of the Finnish capital city, for the purchase of forty new trams manufactured by the Finland-based Transtech Ltd.

The loan, with a maturity of 20 years, will finance the tram purchase as part of the municipal investment programme aimed at improving the service quality and productivity of public transportation in Helsinki. HKL will purchase forty energy-efficient, low-floor Artic model trams that will replace the generation of the current fleet built in the 1970s.

The new Helsinki trams have been designed in cooperation between the city and the Finnish manufacturing company Transtech Ltd, part of the Škoda Transportation group. The new fleet will be more energy efficient, offer more comfort and better access for wheelchairs and prams, and have a passenger capacity by 50% greater than the older trams.

“NIB has a long track record of co-financing improvements to public transportation in Helsinki. We believe that creating an efficient and comfortable public network for daily commuting helps communities reduce their carbon footprints and brings us closer to a carbon-free economy”, says Henrik Normann, NIB President & CEO.

“Long-term financing is essential for the implementation of competitive public transport projects. The loan from NIB secures the acquisition of the Artic trams for Helsinki, which are designed for the challenging Finnish conditions, and are excellent with regards to noise levels and maintenance requirements”, says Ville Lehmuskoski, HKL President & CEO.

Helsinki City Transport HKL is a municipal operator company responsible for running the trams and the metro as well as construction and maintenance of track, stations and depots in Helsinki.

About Nordic Investment Bank

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.