Nantes Métropole takes out €200M loan from EIB for public transport and cycle paths in France
This EIB loan has a 30-year term and comes with a €30 million grant from the European Commission under the Just Transition Mechanism.
Nantes Métropole has taken out a €200 million loan from the European Investment Bank (EIB) for public transport and cycle paths, aiming to offer users more efficient, affordable and environmentally friendly transport services.
This funding package supports several of the Métropole’s projects promoting alternatives to private cars: work to upgrade 3.2 km of tram routes on lines 1, 2 and 3 together with the purchase of 46 new Citadis trams, which will gradually replace older units; the construction of the new Babinière tram technical and operations centre (CETEX) with a new, redeveloped multimodal interchange hub and park and ride; and the creation of 38 km of a total of 50 km of cycle paths planned by the Métropole.
This EIB loan has a 30-year term and comes with a €30 million grant from the European Commission under the Just Transition Mechanism. This mechanism makes it possible to finance public investment in European regions for the transition to a low-carbon economy, with €1.5 billion of grants funded by the EU budget.
Nantes Métropole is participating in the European Union’s mySMARTLife project (sustainable mobility infrastructure for low emissions and quality services), the main goal of which is to foster the development of a more sustainable city, the reduction of CO2 emissions and the development of renewable energies via innovative solutions in the mobility, energy and digital fields.
“I thank the EIB for its firm and clear support for the environmentally friendly path our city has taken,” said Mayor of Nantes and President of Nantes Métropole Johanna Rolland during a signing ceremony with EIB Vice-President Ambroise Fayolle held on the sidelines of the metropolitan council. “Our investment in developing sustainable mobility is huge. It totals €1 billion under the current mandate, 20% of which will be financed by this loan, making travel in the 24 municipalities of our Métropole easier, cheaper and less polluting.”
“The EIB is supporting regional authorities in their green transitions,” added EIB Vice-President Ambroise Fayolle. “These investments that the EU climate bank is helping to finance are completely in line with this approach. They will have a direct and tangible impact on the daily lives of residents and users in the Nantes area. This shows that EU action can improve people’s quality of life and well-being.”