NIB finances road infrastructure in Rovaniemi

NIB and the city of Rovaniemi in northern Finland have signed a EUR 10 million loan agreement for an investment programme in local road infrastructure to be implemented in the time period 2012–2015.

The maturity of the new loan agreement is 15 years. The loan will finance municipal investments in the renovation of streets and streetlights in the city. The renovation programme will be focused on streets adjacent to Finland’s national road 4 (part of the European route E75) that crosses the city. An increasing traffic flow on the national road causes congestions which the modernisation of conjunctions, bridges and tunnels will help alleviate.

The streetlight upgrade programme is expected to lead to a decrease of the use of energy by about 3,200 MWh, or 40% of the current energy consumption.

With a population of 60,000 people, Rovaniemi is the fifteenth largest city in Finland and the logistical hub of northern Finland.

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.

For further information, please contact

Ms Tarja Kylänpää, Senior Director, Head of Infrastructure, Transportation & Telecom Group, at +358 10 618 0237,

Mr Dan-Roald Steinnes, Communications Unit, at +358 10 618 0399,