The European Investment Bank (EIB) is lending NOK 400 million (ECU 48 million) for the construction and upgrading of roads in the Oslo area.

The finance goes to AS Fjellinjen, the municipality owned toll concession company, for investment in "the Oslo package".

In order to facilitate the financing of the roads project in the Oslo area and thus speed up the implementation of it, a toll ring, operated by AS Fjellinjen, was established around the city centre.

Today approximately half of the initially planned road and tunnel projects have been completed resulting in notably improved traffic and environmental conditions in the Oslo area.

The road scheme will improve connections between the E6 and E18, the main road axes between Norway and the EU, which are part of what is called the Nordic triangle connecting the Nordic capitals.

The EIB is financing the scheme as it will contribute to environmental improvements and strengthen trans-European communication links.

The loan brings total EIB lending for Norwegian projects to some ECU 930 million.

These include large offshore projects of European interest - i.a. the extension and refurbishment of the Ekofisk oil and gas complex in the Norwegian sector of the North Sea as well as the construction of a pipeline linking gasproducing fields in the Norwegian North Sea with a new terminal in France. EIB loans have also financed energy sector investments in Norway (the electricity grid and power stations) and improvement of the E6 road between Oslo and the Swedish border.

The European Investment Bank (EIB), the financial institution of the European Union, contributes by means of its long-term loans towards the integration and balanced development of its member countries as well as countries outside the Union.