The European Investment Bank (EIB) is supporting development of the tram system in Nancy in northern France (Lorraine).
The Communauté Urbaine de Grand Nancy has received a loan for EUR 60 million (1) (FRF 394 million) towards constructing its new tram network. The finance contract was signed today in Nancy by Charles Choné, Chairman of the Communauté Urbaine du Grand Nancy, and by EIB Vice-President Francis Mayer.
The new public transport system forms part of Nancy's blueprint for modernising urban transport facilities designed, in particular, to make the city centre more accessible to suburban residents and other commuters.
The promoters have opted for innovative technology, with each tram mounted on tyres and, for the most part, travelling within a dedicated corridor separate from other traffic. Set to offer a rapid and regular tram service, this new means of transport constitutes a credible alternative for private motorists and will replace the trolleybuses currently operating over the same route.
The EIB's funds will aid construction of Nancy's first 11 km tramline, running from the city's north-eastern to its southern outskirts and serving 28 stops. It is due to start operating at the beginning of 2001. The full network, scheduled for completion by 2006, will comprise three lines covering some 25 km and operating within a dedicated corridor. It will directly serve almost a quarter of Nancy's population.
The loan from the EIB ties in with the Bank's priority support for viable urban development schemes intended to improve the quality of life for a large proportion of the European Union's city dwellers.
The past five years have seen the Bank providing over EUR 3.6 billion for a range of public transport projects aimed at alleviating congestion and easing pollution in urban centres. Outside France, these projects have encompassed metros, light railways and tram systems in: Athens, Barcelona, Bilbao, Lisbon, Madrid, Manchester, the Midlands, Munich, Rostock, Sheffield and Valencia, while within France the EIB has assisted implementation of a series of similar transport schemes in Lyons, Montpellier, Nantes, St Etienne, Rennes and Strasbourg.
(1) EUR 1 = FRF 6.55957, 0.613400 GBP.