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€500m loan for Paris tram T3 extension

02 Oct 2009

FRANCE: A €500m agreement to finance an extension of tram line T3 in the east of Paris was signed by Anne Hidalgo, First Deputy to the Mayor of Paris, and Philippe de Fontaine Vive Curtaz, Vice-President of the European Investment Bank, on September 28.
 
EIB has previously contributed €130m towards the construction of the first section of T3 between Pont Garigliano and Porte d’Ivry.

The 14·5 km extension from Porte d’Ivry to Porte de la Chapelle was approved on April 16, as part of the Ile de France region's urban mobility plan. Work started in early 2009 and it is expected to be commissioned by the end of 2012, providing connections with the metro and RER networks.

The project is the result of a partnership between the City of Paris, Ile de France region, Syndicat des Transports d’Ile de France and RATP. The City of Paris is responsible for implementing the project and, together with the Paris département, will provide two-thirds of the cost, with the Region covering the remaining third.
 
‘The development of sustainable urban transport in Europe is a priority for the EIB', said de Fontaine Vive. 'I am especially pleased to sign this new sizeable finance contract with the City of Paris. Four years ago, the Paris tramway and its first section were an immediate success with users and passenger volumes have exceeded all forecasts. By publicising this type of operation, we can demonstrate how close the EIB, the bank of the European Union, is to its citizens'.