Sweden: EIB finances major expansion of Stockholm metro – one of Europe’s largest urban transport projects

This article is published in association with European Investment Bank.

• The European Investment Bank (EIB) is providing approximately 400 million euro in additional financing to the Region of Stockholm and the City of Stockholm.
• The project, which will affect four municipalities, involves 30 km of new tracks, 18 metro stations, and the expansion of a depot.
• This is one of the largest metro expansion projects currently underway in Europe.

The European Investment Bank (EIB) is stepping up its support for a project to expand the Stockholm metro by providing additional loans to the Region of Stockholm and the City of Stockholm. The EIB will provide a total of SEK 4.5 billion in financing, which equates to around €400 million. Including these new loans, the EIB has provided a total of over SEK 12 billion (more than €1 billion) for the project in Sweden’s capital.

The project to expand the Stockholm metro is one of the largest infrastructure projects in Sweden to have been funded by the European Union and is the largest investment that the EIB has ever made in public transport in Sweden.

EIB Vice-President Thomas Östros said: “This investment boosts both sustainable mobility and regional development. By providing an additional loan, we are demonstrating our long-term commitment to climate-smart investments in Europe’s growing cities. This project is an excellent example of how EU funding can benefit both people and the climate.”

The metro project involves three new 30-kilometre sections in the Region of Stockholm, of which 20 kilometres will be in double-track tunnels, as well as 18 new stations. 130 500 housing units will be built along these new sections.

The project will be implemented in the municipalities of Stockholm, Nacka, Solna and Järfälla. This initiative is essential to provide sustainable and efficient public transport to meet the needs of the growing population. 730 000 people currently use public transport in the county every day.

Region of Stockholm Director-General Emma Lennartson said: “The EIB’s support is essential for investment in the metro expansion project. Continuing to invest in, and rely on, public transport is an effective way of reducing greenhouse gas emissions in the Region of Stockholm.”

Lennartson also added:

“With the City of Stockholm and our other partners in the county, we are working hard to reduce greenhouse gas emissions by 12% every year, which is necessary for the county to do its part to meet the objectives of the Paris Agreement. Investing in the metro will help to increase our chances of reaching carbon neutrality by 2045.”

The new EIB loan is divided between the two borrowers:

• SEK 2.5 billion will go to the Region of Stockholm
• SEK 2 billion will go to the City of Stockholm.

City of Stockholm Director-General Fredrik Jurdell said: “The EIB’s continued commitment to this financial partnership reaffirms the importance of the metro expansion project for sustainable growth in the capital and the surrounding areas. The new metro meets the needs of future generations in terms of transport and mobility, but also with regard to housing, given that housing units will be built as part of the project.”

Significant efforts to boost sustainability are at the heart of the project to expand the Stockholm metro. Ceequal, a leading certification system for civil engineering projects, has completed an audit of the project. Several parties involved in the project received the ‘Excellent’ rating – the highest possible rating. This highlights how ambitious the project is with regard to the environment and sustainable development, going beyond legal and sector-specific requirements.

Background information  

EIB 

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union, and the capital markets union.  

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.  

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.  

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

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