Crossrail gets £1billion loan towards building costs
Crossrail moved a step closer after Transport for London secured a £1billion loan to finance part of the new rail link.
The European Investment Bank has loaned the cash, which makes up 40 per cent of TfL's contribution to the project.
TfL and the Greater London Authority are providing £7.7billion of the funding for the £15.9billion scheme, which will see the building of a rail link from Essex to Heathrow, including a spur to Canary Wharf. TfL has to provide a total of £2.4billion to the project.
Mayor of London Boris Johnson said: "It is one of the largest loans ever secured for a transport project and I am especially pleased to have this backing for our drive to provide London with the facilities required to keep the capital one of the world's leading cities."
Older/Newer
« Winners revealed at Canary Wharf Film Festival | DLR hit by morning delays »
Read The Wharf E-Edition
Leave a comment