The accord, which comes under the InvestEU programme, builds on the Greek government’s commitment to restructuring the national railway sector and to fulfilling European Union safety and environmental standards. It also highlights the EIB’s commitment to promoting modern and sustainable transport networks in the EU as part of the bank’s strategic roadmap.
EIB Vice-President Ioannis Tsakiris and Greek Minister of Infrastructure and Transport Christos Staikouras signed the agreement today in Athens.
Key strategic priorities outlined for the Greek rail sector include:
- Completing the Patras-Athens-Thessaloniki-Promachonas (PAThEP) corridor, a crucial part of the TEN-T network.
- Expanding rail connections to ports and industrial zones, strengthening the economic infrastructure.
- Facilitating cross-border rail connections with Europe to enhance regional connectivity.
The advisory accord marks a significant opportunity for the EIB to help shape rail investment in Greece over the next two decades. The EIB work will feed into the Greek National Recovery and Resilience Plan, which requires the adoption of a multiyear investment plan by mid-2025.
The assignment will run for run for six months, during which the EIB will engage external service providers to execute three main tasks:
- Development of a strategic business plan for the new rail infrastructure entity.
- Preparation of a medium-term (2025-2034) implementation plan for the railway sector.
- Creation of a comprehensive funding plan to support the implementation of priority projects.
