Luxembourg is a major banking and financial centre and the home to European institutions such as the European Court of Justice, the European Investment Bank, the European Court of Auditors and the secretariat of the European Parliament. Although the population of the capital of the world's only Grand Duchy may number just 120 000, a typical weekday will see the same number again travel in from the neighbouring countries of France, Germany and Belgium. In recent years, bus corridors in the city have reached capacity and caused significant traffic congestion. This led the local authorities to launch a programme to create a tramline that will form the 'spine' of an integrated transport network. From approval to implementation, the introduction of the city's tramline has taken less than four years, with financing agreed in June 2014 and the first rails laid in July 2016.
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