EIB: €580m for Athens Metro New Line 4

Athens Cityscape

Thirty-year loan represents the largest financial package ever provided for a single Greek project.

The European Investment Bank (EIB) has agreed €580m of funding for construction of the Athens Metro New Line 4, supporting the latest major expansion of metro capacity in the country.

The new line is the largest metro route ever built in Athens and is being supported with a 30-year loan to secure the construction of Section A’ from Alsos Veikou to Goudi, with 15 new underground stations.

Currently, the two metro lines in Athens have a total length of approximately 43km and accommodate 40 modern stations. In total the network serves approximately 1,000,000 passengers.

Stations in Athens also serve as small museums, displaying remarkable archaeological finds and the works of art of distinguished artists. This reflects the 50,000 archaeological finds discovered during excavation of more than 79,000m2 in the construction of previous lines.

Athens is investing heavily in new metro capacity. The final three stations of the Athens Metro Line 3 will be commissioned in the summer of 2022. A tramway extension to Piraeus was commissioned in December 2021, bringing 12 new stops to the tram network.

Christian Kettel Thomsen, EIB vice president, said: “Investing in sustainable transport is crucial to improve daily life, support economic growth and cut carbon emissions and pollution. Over the last 30 years the EIB has supported visionary investment by Attiko Metro that has reduced traffic jams and improved travel for Athenians and visitors. Today I am pleased to join Attiko Metro to formally agree our largest ever backing for transport in Greece and confirm our support for Line 4.”

Attiko Metro S.A. CEO, Nikos Kouretas, added: “The implementation of Attiko Metro S.A. projects would not have been possible if they had not been integrated into the financing programmes of the European Union and if the European Investment Bank had not provided its support and decisive contribution from the beginning of the Metro projects construction in Athens and Thessaloniki until the present date. During its long-term operation, Attiko Metro S.A. has proved its competence to design, study, put to tender, and supervise the construction of complex Metro and Tramway related projects, with the highest safety, reliability and quality standards, along with rich aesthetics, by transforming Metro Stations into to small museums.”