The EIB is lending EUR 100 million to Austrian city Graz to finance the modernisation and expansion of its tram Infrastructure.
The European Investment Bank (EIB) on 4th November said in a statement that the bank is lending EUR 100 million to Austrian city Graz to finance the modernisation and expansion of its tram infrastructure.
Part of the loan will also be invested in the renewal of the tram and bus fleet, the bank said.
The EU bank and the City of Graz have already been working closely together for several years.
The loan signed on 4th November by the Mayor of Graz Siegfried Nagl and EU Vice-President Andrew McDowell is the third contract between the two partners since 2013.
The City of Graz is Austria’s second-largest city and the capital of the Federal State of Styria. The Population, which now stands at 300 000, has been growing rapidly for years.
The historic city centre serving as an administrative hub, modern cultural institutions, eight universities and world-renowned leading companies shape the cityscape and call for well-connected and forward-looking infrastructure.
