In 2002, the European Investment Bank, the European Union's long-term financing institution, provided a total of some EUR 1.1 billion for projects in Greece.

2002: focused on transport, telecommunications, energy as well as urban renewal and development (including environmental improvement and protection).

The EIB concentrated its lending in urban transportation, cultural heritage conservation, urban renewal and development and environmental improvement and protection projects (Olympic Games Athens 2004 project), which absorbed a total of EUR 500 million (47%), transport projects (TENs) for a total of EUR 322m (30%), telecommunication for a total of EUR 100 million (9%), and electricity transmission and distribution for a total of EUR 150 million (14%) .

Projects signed in 2002

The following lending operations have been signed in 2002 (in EUR m):

  • Upgrading of electricity transmission and distribution networks (150.0)
  • Construction of ring road north of Athens, forming part of Patras-Athens-Thessaloniki trunk road and linking Athens city centre to new international airport (106.6)
  • Construction of motorway sections on Egnatia trunk road (northern Greece) and Thessaloniki bypass (75.0)
  • Construction of motorway section between Igoumenitsa and Panagia on western part of Egnatia trunk road (140.0)
  • Upgrading and expansion of mobile telecommunications network (100.0)
  • Construction and upgrading of infrastructure and facilities in Athens and other Greek towns (2004 Athens Olympic Games) (500.0)