EIB Backs Stockholm Metro Upgrade With €400M Loan

Law360, New York (February 22, 2013, 6:03 PM EST) -- As part of its push for more sustainable transit operations, the European Investment Bank reaffirmed its support Friday for a recent €400 million ($526 million) loan to help upgrade and expand Stockholm's metro system.

Per the deal, which was officially struck on Feb. 15, the bank will put up the money to help buy new energy-efficient rail trains and upgrade the Swedish city's signaling system, as well as build a new underground depot and renovate another depot, the EIB said. The improvements are expected to help...
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