Bank of Ireland Corporate Banking has announced that it is part-funding a rail project in Vancouver, Canada.
The project, worth $1.8 billion Canadian dollars, will develop a new light rail system from the town of Richmond, northwards to central Vancouver, with a link to Vancouver International Airport.
The system will be open in time for the Winter Olympics, which take place in the region in 2010, and will provide a key transport link to relieve congested routes.
Bank of Ireland has specifically targeted the Canadian Public Private Partnership (PPP) market, due to its experience in PPP/concession financing in Europe, including light rail systems.
The other banks involved in underwriting the $600 million transaction are Société Générale and Norddeutsche Landesbank Girozentrale.