The European Bank for Reconstruction and Development will join a consortium of lenders that support the modernization of 14 regional airports in Greece, with $198 million in long-term funds.

“We are delighted to participate in this landmark transaction, which we expect to provide a much-needed boost to the Greek economy and to Greece’s regional development,” EBRD First Vice President and Head of Client Services Group Phil Bennett said in a press release. “The modernization of this key infrastructure, supporting tourism in particular, will improve access, exchange and integration.”

The funding will go to Fraport Greece, which holds a 40-year operating concession for the airports. The airports served approximately 25.2 million passengers in 2016. Total funding for the project is EUR 968.4 million, with other investors including the International Finance Corp., the Black Sea Trade and Development Bank, the European Investment Bank and Alpha Bank.

“The EBRD is especially pleased to support strategic partners who will bring private funding and expertise to regional airports in Greece and could provide an important model for future infrastructure development projects,” Bennett said.

The 14 airports to be modernized are Aktio, Chania (Crete), Kavala, Kefalonia, Kerkyra (Corfu), Kos, Mitilini, Mykonos, Rhodes, Samos, Santorini, Skiathos, Thessaloniki and Zakynthos.