EIB and Stockholm sign SEK 4 billion loans to finance the renovation of the Slussen area

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The European Investment Bank (EIB) has signed a SEK 4 billion loan with the City of Stockholm to finance the renovation of the Slussen district in the city center. With the financing, the area named after the locks between Lake Mälaren and the Baltic Sea is to be completely redesigned. The associated work includes not only the renovation of the 85-year-old locks and the road bridges on the lock, but also the construction of a new bus station that connects to an intermodal transport hub called “Atrium” that will connect buses, subways and regional trains and the Skärgård ferries. In addition, the area will have new bus lanes as well as cycle and footpaths.

EIB Vice-President Thomas Östros said: “The European Investment Bank is very happy to support this project, which further enables sustainable urban transport in Stockholm and also improves the climate resilience of important transport infrastructures in the city. It’s a great example “showing how important Europe can be at the very local level, and a signal to cities across Europe that the EIB can make a difference in supporting sustainable urban renewal.”

Sofie Nilvall, Treasurer of Stockholm Stad, said: “The City of Stockholm appreciates the possibility of using loans provided by the EIB to finance some large infrastructure projects like the new Slussen is a good complement to the city’s financing through the bond market.”

The lock and the overlying road bridges have to be renewed after 85 years of use, which prompted the city to draft a new master plan for the area. The new layout of the Slussen area aims to prioritize public transport, cyclists and pedestrians and also to increase the capacity of the main bus station. The work will also improve the transition between city traffic and ferries, while the new lock improves water management for Lake Mälaren. Overall, the renovation is intended to increase the area’s attractiveness for companies and visitors.

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