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Crossrail’s £1bn boost
CROSSRAIL has been given a funding boost with the promise of a £1billion loan.
The European Investment Bank (EIB) will lend the money to Transport for London for the £16bn rail link from Maidenhead to Shenfield.
The scheme is due to be completed by 2017 with just under half of the cost being covered by TfL and the Greater London Authority.
London Mayor Boris Johnson said: “The loan gave a billion more reasons to proceed with the unstoppable force that is Crossrail,” adding that it was one of the largest loans ever for a transport project.
EIB vice-president Simon Brooks said: “By providing a much-needed boost to rail capacity in London and south east England, Crossrail will help to develop London as a sustainable world city by reducing congestion and pollution.”assive overcrowding problems that residents face. It is time for fewer reports and more new homes.
“Westminster can make a start by requiring more new on-site homes in new developments all over Westminster, rather than simply pocketing the money.” |
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