Helsinki City Transport, which operates the trams and metro in Finland's capital, has been lent €250 million by the European Investment Bank (EIB).

The loan will help finance construction work and new equipment along a 25km bus rapid transit route, as well as the renovation of metro stations and track, automating the metro signaling system and the purchase of new metro trains.

The project, which is scheduled for completion by 2016, comes after the EIB signed a €450 million loan to the project company Länsimetro, owned jointly by the City of Espoo and the City of Helsinki, for the construction of a 14km metro line from Central Helsinki to Espoo.

Seven stations will also be constructed along the route, which is scheduled for completion by the end of 2015.

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