Reference: 20080399
Release date: 12 September 2012

Promoter – Financial Intermediary




Construction of extension of the Thessaloniki metro system, including the upgrading of existing fleet, signalling and control systems, parking facilities.


The project runs through areas designated as Convergence Regions and is therefore eligible for Bank financing under Article 309, point (a) projects for developing less developed regions - “regional development” and (c) common interest - “enhancing urban environment – sustainable urban transport”, of the EC Treaty.


Proposed EIB finance (Approximate amount)

EUR 400 million

Total cost (Approximate amount)

EUR 820 million

Environmental aspects

Metro Projects fall under Directive 2011/92/EU and therefore competent authorities decide on a case by case analysis if a full EIA has to be carried out or not. In this case, a full EIA has been carried out. During the appraisal it will be examined that all parts of the project comply with EU Directives on the environment, including the EIA Directive 2011/92/EU, the Habitats Directive 92/43/EEC and the Birds Directive 79/409/EEC. The question of the projects falling within a plan or a program requiring a Strategic Environmental Assessment (SEA) in line with EU Directive 2001/42/EC will also be further examined during appraisal.

In general, metro projects are characterised by a positive impact on the environment thanks to the ability of metro’s to attract car drivers into the public transport system and because underground infrastructure removes surface traffic from densely built-up urban area.


The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EEC/ or 2004/17/EEC and Dir. 2007/66/EC), with publication of tender notices in the EU Official Journal, as and where appropriate.


Signed - 18/09/2014


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).

Related tags

Greece Transport