The European Union is investing more than $1.38 billion on transportation, broadband and environmental projects in Greece to complete major projects started in the past 10 years.
“These infrastructure projects co-financed by the EU are meant to support a Greek-led growth strategy,” Regional Policy Commissioner Corina Creţu said in a European Commission press release. “They are concrete expressions of EU solidarity. Over 35 billion euro of EU funds is invested in the country over the 2014-2020 financial period and they are powerful basis for a return to lasting prosperity. Coupled with the European Fund for Strategic Investments, the heart of President Juncker’s Investment Plan, they can also attract more private investments.”
Rural and remote areas of Greece will receive broadband in line with a project that aims for everyone in the country to have internet access by 2020. This will boost innovation and entrepreneurship and make the country more sustainable, according to the press release.
More than $278 million will be used to extend the Athens metro Line 3 through Athens’ suburbs to Piraeus, Greece’s third largest and most important port. Another $61.9 million euro will extend the Piraeus tramway from the center of the city to the port to reduce traffic congestion in the city.
The EU is also backing a driverless metro system in Thessaloniki to boost the local economy. This is expected to be operational in 2020.
Other funds will modernize sewer and roadway networks in areas of the country.
