The European Investment Bank (EIB) has approved a €150 million loan to support infrastructure upgrades in Lahti, a city to the north of Helsinki, Finland.

It said the funds would finance small- to medium-sized municipal infrastructure upgrade projects to cater for the growing population, and promote future economic development.

Transport schemes are planned to receive funds as part of the package – mainly renovation of streets and modernisation of infrastructure – with a view to reducing journey times and vehicle operating costs.

The EIB said the reconstruction or renovation of public buildings would also produce energy savings resulting from the insulation of walls and roofs, replacement of windows and other energy efficiency measures.

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