JOKERI LIGHT RAIL LINE (EIB-20160838)

Countries
  • Finland
Where the impacts of the investment may be experienced.
Specific Location
Helsinki City and Espoo City
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 4, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
CITY OF HELSINKI, CITY OF ESPOO
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 237.86 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 200 million
Converted using 2017-09-04 exchange rate.
Loan Amount (USD)
$ 237.86 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 200 million
Converted using 2017-09-04 exchange rate.
Project Cost (USD)
$ 547.07 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 460 million
Converted using 2017-09-04 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Feb 12, 2018

Disclosed by Bank Feb 3, 2017


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Project Description

According to EIB website, the project is concerned with the construction of the Jokeri light rail line in the cities of Helsinki and Espoo in Finland and the acquisition of related rolling stock. Primarily, the project will improve the quality of public transport services in terms of speed, comfort, availability and reliability and will increase the attractiveness of public transport in both cities concerned. This improvement contributes to keeping public transport competitive compared to private cars, with associated positive benefits in terms of the environmental and economic sustainability of the cities. The project is thus expected to improve the quality of the urban environment.

Under the circumstances and conditionalities are met as stated in the bank documents, the project is considered to be acceptable for Bank financing from an environmental and social perspective.

Investment Description
  • European Investment Bank (EIB)
Contact Information

No contact information provided at the time of disclosure. 

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