EUROPE: Supra-national rolling stock financing body Eurofima has revised its long-term business strategy to target the urban public transport market by underwriting investment in metros and light rail.
The Basel-based body says the changes to its remit will enable it to finance a broader range of rail vehicles and enable more cities and regions to benefit from its affordable long-term funding.
‘Eurofima’s updated strategy brings our mission closer to where mobility needs are growing the fastest — in urban areas, in regional systems, and in cities working to modernise and decarbonise their fleets, not just trains, but now also trams and metros’, said CEO Christoph Pasternak when the changes were announced on March 6.
The revised operating framework allows Eurofima to support the funding of infrastructure service vehicles as well, while offering financing terms that last beyond 2056, which the organisation says is better aligned with the long life-cycle of rail assets.
Eurofima expects to be able to engage directly with regions and sub-sovereign entities, and — on a on a case-by-case basis — it will be able to waive the collateral requirement previously needed for all its transactions.
‘Our financing makes it easier for rolling stock owners to invest in modern fleets at lower cost in line with the asset lifetime, now even beyond 2056’, added Chief Financial Officer Elena Bukina. ‘This benefits citizens, the climate, and Europe’s railway industry.’
- Railway Gazette International understands that work is ongoing for the UK to become a signatory to the Eurofima Convention by mid-2026, subject to parliamentary approval.
