France: EIB lends EUR 250m to finance line 3 of the Montpellier tramway
Posted: 4 July 2011 | EIB | No comments yet
The EUR 250m loan granted by the EIB to Montpellier Agglomération…
From Left to Right: M. Jean-Pierre MOURE, Président de la Communauté d'Agglomération de Montpellier et M. Philippe de Fontaine Vive, Vice Président de la BEI
The EUR 250m loan granted by the European Investment Bank (EIB) to Montpellier Agglomération for line 3 of its tramway network represents a concrete project benefiting all inhabitants of the Greater Montpellier area and its numerous visitors.
EIB Vice-President Philippe de Fontaine Vive stated: “I am very pleased about this quality, long-term partnership with Montpellier Agglomération on a project for its population that meets the objective of sustainable development. Sustainable urban transport is an EU priority and a crucial component of economic development and social cohesion that contributes directly towards improving people’s daily quality of life.”
More specifically, the EIB’s financing of line 3 of the tramway will concern the renovation of four stations, the construction of 26 stations and the acquisition of 22 trams each with a capacity of 300 passengers.
This loan is another example of the EIB’s ongoing priority operations being carried out in France in the field of sustainable public transport aimed at significantly reducing urban pollution and lowering CO2 emissions (target of 20% by 2020). The EIB is the main investor in the sustainable public transport sector in France and makes all its technical and financial expertise available on attractive lending terms to local authorities to enable them to develop public transport modes as an alternative to private cars. The EIB has financed 24 tramways throughout France and supported eight French regions with their rail network upgrading projects. High-speed railway lines are also one of the EIB’s core activities in France: the Bank recently signed an aggregate loan of EUR 1.2bn for the LGV Sud Europe Atlantique high-speed line and has already undertaken to support the Nîmes-Montpellier high-speed rail bypass under a PPP arrangement.