NIB finances infrastructure investments in Vantaa, Finland

Ring Road III. Photo: Sakari Manninen, City of Vantaa’s material bank.

NIB and the city of Vantaa have signed a new loan agreement, totalling EUR 34 million with a tenor of 20 years, for the upgrading of Ring Road III and a multipurpose campus in Vantaa, southern Finland.

The city is investing in infrastructure development with the aim of improving the traffic flow along Ring Road III, one of the busiest roads in Finland, and to construct a multipurpose campus in a new residential and office area in the city of Vantaa.

Substantially important for Vantaa’s transportation routes, Ring Road III is used by approximately 60,000–70,000 vehicles daily. As a part of the national E18 highway, it connects the southern Finnish towns and harbours to Helsinki Airport, and therefore functions as a significant route for both domestic and international traffic. Investments in improvements of Ring Road III are expected to considerably shorten travel times for road transport, and to increase road safety. The project will also include upgrading of the pedestrian and cycling route network.

“The development of this key road connection to Helsinki Airport is strategically important for the Finnish economy and the competitiveness of the cities in southern Finland”, says Henrik Normann, President & CEO of the Bank.

The new multipurpose campus houses a comprehensive school, kindergarten and a maternal and child health care centre. It will contribute to the development of a new residential area in the Helsinki Metropolitan Area, where is currently a limited supply for housing, which has caused real estate prices to increase. This, in turn, has a negative effect on labour supply in the region.

Vantaa is the Finland’s fourth largest city, with a population of 200,000.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Joakim Holmström, Senior Manager Transaction & Portfolio Management, at +358 10 618 0374, mixIt(‘joakim.holmstro’,’m’,’nib.int’,”,”,’1522931247969-0′);joakim.holmstrom (at) nib.int

Ms Niina Rantti, Communications Officer, at +358 10 618 0265, mixIt(‘niina’,’.rantti’,’nib.int’,”,”,’1522931247969-1′);niina.rantti (at) nib.int