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Sat September 26 2020

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Greece receives €815m for transport and energy schemes

19 Sep 14 The European Investment Bank (EIB) has signed finance agreeements worth €815m (£643m) for motorways, the Thessaloniki metro and an improved electricity transmission network in Greece.

The Thessaloniki metro is already under construction.
The Thessaloniki metro is already under construction.

Some €300m of the funding will be used for the Greek motorway programme to finance the construction of 239km of new motorways and smaller upgrades on 434km of existing routes. EIB is also providing €200m in further support of the Thessaloniki metro, which is already under construction. There will also be funding of €180m for improvements to the electricity network and €135m for improved electricity transmission for the Cyclades islands.

EIB president Werner Hoyer said: “With this strong shot we continue our support for growth and jobs in Greece. We concentrate on key sectors and help the Greek State to proceed with the construction of the country’s major motorways and the Thessaloniki metro to improve the citizens’ living and economic conditions. We also contribute to realise the electricity interconnection of the Cyclades islands, a long awaited project in Greece. This investment boosts tourism, by putting an end to the blackout risks of the past. All five projects will create jobs during construction and after, through commissioning, and will have further positive spillover effects in the regional and national environment, economy and living conditions."

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