Latest news with #ThomasÖstros
Yahoo
27-05-2025
- Business
- Yahoo
EIB to provide €400m loan for Stockholm metro expansion
The European Investment Bank (EIB) has announced that it will contribute approximately €400m ($455.5m) in additional financing for the expansion of the Stockholm metro in Sweden. The funding is allocated between two recipients, with the Region of Stockholm receiving Skr2.5bn ($262.9m), and the City of Stockholm to be granted Skr2bn (210.3m). The additional loan will bring EIB's total investment in the project to more than €1bn. The Stockholm metro expansion project includes the construction of three new sections, totalling 30km, with 20km of double-track tunnels and 18 new stations. This is among the largest metro expansion projects currently in progress in Europe and one of the largest infrastructure projects in Sweden, financed by the European Union. It also marks the largest investment the EIB has made in public transport within the country, according to the bank. It is anticipated that 130,500 housing units will be developed along these new metro lines. EIB vice-president Thomas Östros said: 'This investment boosts both sustainable mobility and regional development. By providing an additional loan, we are demonstrating our long-term commitment to climate-smart investments in Europe's growing cities. This project is an excellent example of how EU funding can benefit both people and the climate.' The project will be developed across the municipalities of Stockholm, Nacka, Solna, and Järfälla, aiming to provide sustainable and efficient public transport for the region's expanding population. Currently, 730,000 individuals utilise public transport in the county on a daily basis. City of Stockholm director general Fredrik Jurdell said: 'The EIB's continued commitment to this financial partnership reaffirms the importance of the metro expansion project for sustainable growth in the capital and the surrounding areas. The new metro meets the needs of future generations in terms of transport and mobility, but also with regard to housing, given that housing units will be built as part of the project.' Earlier this month, the EIB announced a financing package of €400m to facilitate the development of a new tramline in Helsinki, Finland. This initiative is designed to improve public transport connectivity to the eastern suburbs of Laajasalo, Korkeasaari, and Kalasatama. "EIB to provide €400m loan for Stockholm metro expansion" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
21-03-2025
- Business
- Yahoo
EIF and Gilion to provide €43m in growth financing for tech firms
The European Investment Fund (EIF) has signed an agreement with Sweden-based finance company Gilion to provide access to more than €43m ($46.9m) in growth funding to Nordic, German, and Dutch technology companies. This initiative is particularly targeted at small and medium-sized enterprises (SMEs) and small mid-caps within the software-as-a-service (SaaS) sector. The partnership will enable Gilion, formerly known as Ark Kapital, to extend loans with reduced interest rates and favourable terms, thanks to EIF guarantees. These terms are designed to support high-growth companies in scaling their operations, expanding internationally, and fast-tracking digital innovation. EIB Group vice-president Thomas Östros said: 'Ensuring access to finance for innovative SMEs and mid-caps is key to strengthening Europe's position as a global leader in digitalisation. 'This agreement will provide tech companies with the resources they need to scale up, create jobs and contribute to Europe's digital economy.' The funding agreement is backed by the InvestEU programme, which seeks to mobilise over €372bn in investments for EU policy priorities, including digital transformation and innovation. This new guarantee deal is a continuation of the EIF's support for Gilion, following a previous guarantee in 2023 that amounted to €146m. Gilion co-founder and chief operating officer Axel Bruzelius said: 'Funding high-growth companies is an important, but difficult, mission. 'This guarantee gives us a huge building block in accomplishing this mission. I think everyone can agree that now is the time to strengthen the European funding infrastructure and, with this support, we will be able to scale faster in our markets with acceptable terms for both us and the entrepreneurs.' "EIF and Gilion to provide €43m in growth financing for tech firms" was originally created and published by Leasing Life, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
