Finland. City of Vantaa
|Date of agreement:||16 Jun 2015|
|Customer:||City of Vantaa|
|Amount in EUR:||EUR 52 million|
|NACE sector / loan type:||Land transport|
This loan contributes to climate change mitigation: 100%
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 100%
NEB category: Clean transport solutions
Amount disbursed: EUR 52 million
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
The loan is provided to the city of Vantaa for the construction of the Ring Rail Line. This double-track railway will connect two commuter corridors between central Helsinki and Helsinki airport, and improve the overall capacity of the Helsinki Metropolitan Area public transport system.
The 18-kilometre track will service five stops, including new residential neighbourhoods in Vantaa. Commissioning of the line is scheduled for summer 2015.
The total costs are shared between the Finnish state, the city of Vantaa and the airport operator Finavia Oyj.
Fulfilment of NIB's mandate
The Ring Rail will provide a rail link to Helsinki airport and reduce travel times for passengers. The improvements in infrastructure are expected to increase efficiency in regional labour and service markets, and to lower the annual operating costs of public transportation.
Railroad transport is a more environmentally friendly mode of passenger transport than road traffic. The trains serving the Ring Rail will be energy efficient, and are estimated to reduce the CO2 output in the region.
The positive impact of the project includes the reduction of emissions into the air due to the transfer of passengers from road to rail. Half the rail tracks are underground, which limits noise, vibration and visual impacts on the surrounding area. Negative impacts occurred during construction due to noise pollution. The Ring Rail crosses the Päijänne Tunnel, which supplies water to the capital area. The project is not expected to interfere with the safe operation of the Tunnel.