Sweden. City of Gothenburg
Date of agreement: | 07 Nov 2024 |
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Country: | Sweden |
Customer: | City of Gothenburg |
Amount in SEK: | SEK 1,200 million |
Amount in EUR: | EUR 104 million |
Maturity: | 20 years |
NACE sector / loan type: | Investment |
Project
This uncommitted credit facility was made available to finance Gothenburg’s investment programme during 2024–2029. Investments under the programme include more sustainable means of travel throughout the Gothenburg urban area, as well as protecting the city against rising sea levels.
Gothenburg has set an ambitious goal of reaching an emission-free transport system by 2030. To achieve this, the city plans to connect the inner and outer city with the Brunnsbo-Linné tramway project. This project creates 7.5 km of new tram lanes. Under this project, the city also plans to improve bus transport and optimise the bus routes for electric charging.
To adapt to climate change impacts, the coastal city of Gothenburg plans to mitigate the risk of flooding by upgrading its Packhus quay. The quay was rebuilt and reinforced in the 1860s. The necessary upgrades will reduce the risk of flooding and add value to the urban environment.
The City of Gothenburg is the second largest city in Sweden. The city has ca. 604,000 inhabitants and hosts a variety of important industries, as well as Scandinavia’s largest harbour. Gothenburg has an Environment and Climate Programme for 2021–2030, which sets out Gothenburg’s path to be an ecologically sustainable city by 2030.
Fulfilment of NIB's mandate
In the Älvstaden area, the recent expansion of residential building has increased demand for public transport. The current bus stops are fully utilised during peak hours. Building a new tram lane contributes to Gothenburg’s target of establishing a rapid tram ring around the inner city to provide direct travel opportunities between key locations. The new traffic infrastructure will secure efficient mobility in the growing city of Gothenburg.
The environmental rating of this project is good.
Impact indicators in relation to the investments:
· Increase in the number of passengers.
Sustainability summary
There are no significant quantitative environmental impacts related to this project.