EIB promotes quality of life in Thessaloniki with EUR 650 million

Publication date: 15 July 2009

EIB promotes quality of life in Thessaloniki with EUR 650 million for the city metro

The European Investment Bank is promoting the quality of life in Thessaloniki – the second largest city in Greece and a major business centre for the southern Balkans – with a EUR 250 million loan for the city’s metro system. This concludes the signature of an overall facility of EUR 650 million, approved by the Bank in 2005.

The finance agreement was signed by EIB Vice-President Plutarchos Sakellaris and George Yannis, CEO of Attiko Metro S.A.

At the signing ceremony today in Luxembourg, EIB Vice-President Plutarchos Sakellaris commented: “As a native of Thessaloniki, I feel happy and proud to sign this loan today. Urban infrastructure and the improved quality of life of European citizens is a key priority for the Union, and for us. Our support for the Thessaloniki metro comes some 15 years after our first loan in support of the Athens Metro. As in Athens, the project will improve daily life and the business climate in the city. We are happy to have ATTIKO METRO as a counterpart for a second project.”

The new EIB loan is intended for the design, construction, testing and commissioning of the first phase of the Thessaloniki Metro system comprising 9.6km of underground double track, 13 stations and 1 depot, including repair and maintenance services. The project also includes the required electromechanical and railway systems, as well as the supply of rolling stock. Supplementary works, mainly parking and transfer facilities, diversions of common utility networks and training of personnel, are also included in the project definition. The underground line will stretch from Thessaloniki railway station at the western entrance to the city to the south-eastern part of it.

The overall Thessaloniki Metro project has been the centrepiece of the Greek State’s strategy for providing an efficient and effective public transport system in Metropolitan Thessaloniki, after the successful completion of the Athens network.  As such it has been supported by the Greek State, the European Union through EU grants and the EIB.  This essential public service project represents one of the most important areas of EIB value added as its ability to provide long-term financing perfectly matches the long-term nature and requirements of the infrastructure provided.

Source: EIB