The European Investment Bank (EIB) has agreed to provide GBP 1 billion (EUR 1.36 billion) for investment in the London transport network. The 35 year loan from Europe’s long-term lending institution will support major projects, including significant upgrades by Transport for London at Victoria and Bank Tube stations, which will transform passenger access at two of the busiest stations in the capital.
“This announcement shows our plan to secure a good deal for the UK from the EU’s European Investment Bank is working. By providing £1 billion (EUR 1.36 billion) worth of investment, vital upgrades can now be made at two of the capital’s busiest stations, making journeys easier for millions of working people. This is part of record lending by the EIB to the UK which totalled GBP 6 billion (EUR 8.2 billion) last year.”
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