The European Investment Bank (EIB) has provided a €230m loan to Finnish airport operator Finavia for the expansion of Helsinki Airport in Finland.

The project will include the expansion of the terminal with two additional piers, enlargement of the baggage handling systems by 50%, development of several associated landside and airside infrastructure, as well as increase in apron capacity and wide-body aircraft bridges.

The expansion project will allow the international hub to serve 20m passengers by 2020. It is expected to create up to 5,000 new jobs.

EIB vice president Jan Vapaavuori said: “Helsinki Airport is the key international gateway in Northern Europe and an important part of the Trans-European Transport Network (TEN-T).

“We are therefore pleased to support Finavia in developing Helsinki Airport, as its increased capacity will benefit both passengers and airlines, so maintaining the strong competitive position of this hub.”