Green Forum • 23 September, 2024 at 10:29 PM
The Lille Metropolitan area (Métropole européenne de Lille) has been awarded a green loan of €245 million by the European Investment Bank (EIB) to fund its public transport network and cycling paths. The loan is combined with a €31.5 million grant from the European Commission via the Public Sector Loan Facility (PSLF) set up under the European Green Deal's Just Transition Mechanism (JTM). This will bring the total budget of the project to over €400 million.
The European Climate, Infrastructure and Environment Executive Agency (CINEA) is responsible for managing this grant and monitor the implementation of the project. This joint blended financing support from the EIB and the European Commission will unlock additional investment for public entities in the European regions most affected by the transition to achieve EU climate and energy targets.
The Green Mobility (GREENMO) project will target various parts of the Lille Metropolitan area public transport infrastructure. The project covers the modernisation of the tram network through the replacement of 30 trams, the roll out of 42 hydrogen-powered buses and the improvement of platforms, depots and other related transport facilities. It will also support the development of an ambitious cycling plan and related infrastructure to improve safety for cyclists.
On completion of the project, around 1.2 million people of the Lille Metropolitan area will benefit from a more efficient, affordable and environmentally friendly public transport service. This improved public transport offer will accelerate change in user behaviour, with an increase in the use of modes of transport alternative to the private car, and reduce its usage in Lille from 56% in 2023 to 40% by 2035. Furthermore, the project is anticipated to significantly transform the Lille Metropolitan area into a bicycle-friendly city. Consequently, greenhouse gas emissions will be reduced by around 90,000 tonnes-equivalent of CO2 annually and around 4,000 direct and indirect jobs will be created.