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    € 100,000,000
    Greece : € 100,000,000
    Urban development : € 100,000,000
    Signature date(s)
    11/11/2013 : € 50,000,000
    31/01/2014 : € 50,000,000

    Summary sheet

    Release date
    20 October 2009
    Signed | 11/11/2013
    Project name
    Promoter - financial intermediary
    Greek Local Authorities Framework
    Local authorities in Greece, primarily municipalities and prefectures and their dependent public service companies.
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Total facility of EUR 100 million
    Total overall cost of schemes to be financed will exceed EUR 200 million.

    The project is a framework loan to support medium-sized local authorities (of cities with more than approximately 50 000 inhabitants) and their dependent companies and other local/regional authorities in Greece. Individual loans will enable the borrowers to invest in the fields of transport, rehabilitation of streets/roads and improvement of traffic safety, educational infrastructures, cultural and historical heritage, public buildings rehabilitation, environmental improvement, energy efficiency and tourism infrastructure.

    The project will facilitate and hasten the implementation of investments responding to the EU policy priorities. Schemes financed will contribute to the regeneration of the respective municipalities by improving the urban environment, according to the local investment and development strategies.

    Environmental aspects

    For schemes co-financed with Community grant instruments at programme level (Operational Programmes) a Strategic Environmental Assessment (SEA) is required in order to comply with the EU Directive 2001/42/EC. Some of the schemes to be financed may fall under the requirements laid down in the European EIA Directive 85/337/EEC and subsequent revisions.

    For sub-projects either requiring an EIA or affecting a natural protected area (if any), the Promoters will provide the Bank with the non-technical summary of the EIA or demonstrate the appropriate approval of the scheme (according to the EU Habitats Directive 92/43/EEC and the EU Birds Directive 79/409/EEC).

    The promoters are subject to public procurement rules according to EU regulations, in particular, EU procurement Directives (2004/18/EC and 2004/17/EC) are applicable.


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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