The European Investment Bank (EIB) has agreed to provide a EUR 250 million project finance loan to TMT - TLV Metropolitan Tramway LTD for construction of the new Tel Aviv Green Line light rail project and acquisition of new rolling stock.

Financial close has been successfully completed and additional financing for the NIS 7 billion private sector project is being provided by Israeli banks.

The Green Line light rail will connect the towns of Rishon LeZion and Holon in the south, passing through central Tel Aviv to the town of Herzliya in the north. The 39 km new rail link will include 62 stations, 4 of which will be underground, and is forecast to serve 275,000 passengers per day. Once operational the new sustainable transport link will transform transport around the greater Tel Aviv area, alleviating congestion and reducing carbon emissions.

The TMT company was awarded the tender for the design, financing, construction, and maintenance of the line in May 2022, and includes Israeli companies Dan and Electra and French multinational Alstom.

The European Investment Bank is the world’s largest international public bank and finances private and public projects across Europe and around the world.

EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance.  EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world