Bergen Light Rail
With more than 25,000 passenger journeys per day in a city of 265,000 people, the Bybanen light rail system has become the backbone of Bergen’s public transit system in only five years. By replacing buses on the busiest axes of the region, it offers passengers fast, smooth, and reliable transportation with zero emissions and very little noise.
Bergen Bompengeselskap, the public company facilitating the funding of Bybanen, has chosen KBN as the loan provider for all three building phases, totaling NOK 5.27 billion. This leaves Bybanen the single largest project financed through KBN’s Green Loans program to date.
- We are more than happy that Bergen Bompengeselskap has chosen KBN as their loan provider. It shows that we can offer flexible financial solutions and competitive terms, says Head of Lending, Lars Strøm Prestvik.
Since Bybanen was introduced in 2010 the number of passenger journeys by public transportation in Bergen has increased by 44 per cent. Replacing cars and buses running on fossil fuel is high priority in a city often troubled by alarming levels of local air pollution. Moreover, drawing passengers to the public transit system is crucial for Bergen to reach its target of a 50 per cent CO2 reduction (compared to 1990 levels) by 2030.
KBN acknowledges the importance of investments such as the Bybanen in reaching local and national climate commitments. Through our Green Loans program we offer a discounted interest rate for investments with a clear environmental performance, such as reducing greenhouse gas emissions or improving climate change adaptation.