EIB funds for Greek highway construction

The European Investment Bank (EIB) is throwing Greece a much-needed economic lifeline in the shape of a €550 million loan. The funding will be used to build new roads and repair existing links, as well as to invest in business. Some €350 million will be used for the construction of 239km of new highways, as well as upgrades to 434km worth of existing roads. The work is expected to help lift Greece’s struggling economy by providing new jobs, as well as encouraging business growth. The funding will help to re
November 15, 2013 Read time: 1 min
Greek highway construction will benefit from an EIB loan, which will also help restart projects that have currrently stalled
The 1054 European Investment Bank (EIB) is throwing Greece a much-needed economic lifeline in the shape of a €550 million loan. The funding will be used to build new roads and repair existing links, as well as to invest in business. Some €350 million will be used for the construction of 239km of new highways, as well as upgrades to 434km worth of existing roads. The work is expected to help lift Greece’s struggling economy by providing new jobs, as well as encouraging business growth. The funding will help to restart a number of highway projects that have stalled since the vast hole in Greece’s finances became apparent.
Road Structures

For more information on companies in this article

Related Content

  • India pushing ahead with infrastructure projects
    July 4, 2012
    Despite the economic downturn, India looks to be pressing ahead with its major infrastructure projects to further boost its incredible growth. Patrick Smith reports India, which like most countries has been affected by the current economic climate, although not to the same extent, is pressing ahead with its ambitious highway construction plans. Each week new projects are completed, started or awarded as the nation seeks to improve its transportation requirements. These are needed to meet the aspirations of
    Read More
  • Serbia’s pan-European Corridor X is in the slow lane
    October 23, 2017
    It’s been slow progress on Serbia’s Corridor X project. Gordon Feller reports. Back in the early 2000’s, the European Union undertook an ambitious programme to link the main cities of its south-eastern region. This involved connecting five key seaports – the Greek cities of Patras, Igoumenitsa, Piraeus and Thessaloniki as well as Romania’s Black Sea city of Constanta. Initially the plan involved two motorways across Greece. The first was a new 780km route including a branch to Ormenio on Greece’s north-eas
    Read More
  • Pakistan’s key highway and bridge connections
    September 28, 2017
    Plans are now being drawn up for a series of projects that will form part of the China-Pakistan Economic Corridor (CPEC). Four road projects worth over US$3.32 billion have been added to the CPEC programme. The Chinese Government is now in agreement with the plans for the CPEC. One of the new roads being built will run from Naukundi, through Mashkel and to Panjgur. The road will join National highway N-40 with CPEC Route N-85, and the Zhob-Kuchlak route. This last link forms part of the Western Corridor CPE
    Read More
  • Bosnian highway investment
    April 27, 2012
    Bosnia's highway company Autoceste Federacije BiH will invest ?500 million in the construction of the Corridor Vc road. The European Investment Bank (EIB) will provide a loan of ?166 million to part finance the project.
    Read More

Highlighted Content