KfW IPEX-Bank Provides Green Loan for Railway Infrastructure in Norway
KfW IPEX-Bank provides a NOK 1,148 million (approximately EUR 100 million) green loan facility for the Norwegian Bane NOR Eiendom. The loan will be disbursed in Norwegian kroner and is split in two equally sized tranches with maturities of 7 and 9.5 years.
Bane NOR Eiendom is a Norwegian state-owned company in charge of the development and management of supportive railway infrastructure such as railway stations and train maintenance facilities across Norway.
The green loan facility by KfW IPEX-Bank is provided in accordance with the client’s Green Finance Framework as well as in accordance with the Clean Transportation category of the Green Loan Principles. Projects eligible for financing include investments in supportive railway infrastructure and service facilities, such as maintenance depots, trains storage and depot facilities.
The proceeds from the KfW IPEX-Bank green loan will be used for investments in the extension and refurbishment of various maintenance workshops. These investments will enable maintenance services for longer passenger trainsets with a length of 220+ meters and will increase overall efficiency of the maintenance cycle.
“By owning, developing and managing railway property on a large scale, Bane NOR Eiendom is a crucial promoter of the further expansion of sustainable public transport devoid of CO2 emissions in Norway.
“We are proud to support our long-standing Norwegian customer with a Green Loan Facility.”
With this financing, KfW IPEX-Bank supports the decarbonization of mobility and transport, thus helping to advance the transformation towards a CO2 neutral society and economy.
This article was originally published by KfW IPEX-Bank.
