EU Bank Gives Nottingham $172M For Light Rail Buildout

Law360, New York (December 21, 2011, 3:58 PM EST) -- The European Investment Bank has agreed to give £110 million ($172.4 million) to the English city of Nottingham for the creation of two new lines for the city's light rail system, in an effort to decrease the use of cars, the lender said Wednesday.

The funding will go to the Nottingham City Council to expand the city's tram network, opened in 2004, to the south and southwest, the bank said in a statement. The financing will be for a 19-year period, according to the statement.

The investor agreed to...
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