BNG Bank and NWB Bank have provided loans worth €400 million to public transport company GVB in Amsterdam for the replacement and further sustainability of rolling stock. The funds will be used for tram sets, metro trains and electric buses, among other things.
This is the first external loan in the history of GVB (formerly: municipal transport company), which is collaborating with the Amsterdam Transport Region on this project. The latter acts as guarantor and reimburses the capital costs. GVB provides public transport in and around Amsterdam. Every day, approximately 875,000 people travel with GVB on the metro, tram and bus and on the ferries across the IJ and North Sea Canal.
In addition to investments in equipment, GVB also uses the loan for investments in real estate, ICT systems, installations such as car washes, wheel turning benches and lifting structures. It is possible to extend the loan, for example for the purchase of additional metros or trams.