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    Reference: 20170614
    Release date: 16 February 2018

    Promoter – Financial Intermediary




    The proposed project is a framework loan to finance investment works on 7 000 small-scale, low-cost road safety improvements on regional roads in Greece.


    The project will help reduce the number as well as the severity of road accidents at accident blackspots, through the implementation of low-cost road safety measures.


    This is the largest stand-alone road accident blackspot programme financed by the Bank so far, as well as the largest Greek road safety improvement programme. The programme furthermore implements some of the main principles of Directive 2008/96/EC on road infrastructure safety management to a larger network outside of the Trans-European Transport Network (TEN-T).


    Proposed EIB finance (Approximate amount)

    EUR 235 million

    Total cost (Approximate amount)

    EUR 470 million

    Environmental aspects

    All schemes from this project are required to be implemented in compliance with EU environmental legislation and are expected to involve keeping existing rights of way. Some of the schemes may fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU, amending Directive 2011/92/EU. Should any scheme have a negative impact on Natura 2000 areas, or fall under the Habitats Directive 92/43/EEC or Birds Directive 79/409/EEC, the Bank would require the promoter to act according to the provisions of the aforementioned directives.


    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 (Directives 2004/18/EC or 2014/24/EU where applicable, and Directive 89/665/EEC) as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union as and where required.


    Signed - 25/11/2020


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

    Related tags

    Greece Transport