BoI to finance Canadian railway

BANK OF IRELAND has announced that it will part-finance a new light rail system in western Canada, linking Vancouver International Airport with the town of Richmond.

The new rail system will cost an estimated Can$1.8bn (€1.2bn), which will be funded by a Public Private Partnership (PPP) involving the Canadian government and three private banks.

It is being put in place ahead of the Winter Olympics, which will be held in Vancouver in 2010, and is intended as a key transport link to relieve congested routes ahead of the games.