EU bank approves €500m loan for Dublin metro project
The European Investment Bank has approved a €500m loan for the development of the proposed Metro North project in Dublin.
Minister for Transport Noel Dempsey welcomed the decision, calling it "an important signal of confidence in this priority public transport project for Dublin" and said the project was on track to be completed in 2016.
The project involves a light metro system serving 18.8km from Dublin city centre to Fingal, via Dublin Airport. Seventeen stations and 21 trains will be developed and acquired as part of the project.
It will connect with LUAS lines, with the DART, and with suburban rail services.
European Investment Bank vice president responsible for Ireland Plutarchos Sakellaris said: "The Metro North project represents a significant contribution to sustainable urban transport in the greater Dublin area and will be the backbone for a future integrated public transport network in the Irish capital."
