European Investment Bank to fund Athens metro extensions

By Steve Skinner22 June 2010

EIB vice-president, Plutarchos Sakellaris and Attiko Metro Company chairman Christos Tsitouras.

EIB vice-president, Plutarchos Sakellaris and Attiko Metro Company chairman Christos Tsitouras.

The European Investment Bank (EIB) has agreed a € 150 million credit facility with the Attiko Metro Company in Greece for the extension of the Athens metro.

The funding will be used to extend line 3 of the city's metro towards Haidari and construct three new stations as well as extend line 2 by 1,5 km and add two new stations.

EIB vice-president, Plutarchos Sakellaris said, "EIB has been supporting metro investments in both Athens and Thessaloniki for more than 15 years. The Athens metro extension will reinforce the public transport system, providing a faster, more reliable and environmentally friendly mode of transport contributing to a cleaner environment for the Greek capital.

"This project is a good example of the catalyst role the EIB can play in helping to co-finance major infrastructure projects with the public and private sectors," he said.

Chairman of Attiko Metro, Christos Tsitourtas said the EIB's support would allow the company to realise significant metro projects in both Athens and Thessaloniki with the support of the EU. "I look forward to further cooperation for the future extensions of the metro in both Athens and Thessaloniki, which will serve the citizens of the two Greek Metropoles," he said.

The new credit facility brings the EIB's total financing for the Athens metro since 1994 to € 1,5 billion.

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