ATHENS, Greece (AP) — The European Union is clearing a 280 million euro loan from the European Investment Bank to the company that won the tender to upgrade and operate 14 regional Greek airports.
European Commission spokesman Margaritis Schinas said Tuesday the EU's investment plan "supports the modernization of all the regional airports." The loan is part of a nearly 1-billion-euro funding agreement with a number of financing institutions.
A German-led consortium won the bid to modernize and run the airports earlier this year.
Fraport Greece announced Monday that long-term financing would be provided by Alpha Bank with 284.7 million, the Black Sea Trade and Development Bank with 62.5 million, the European Bank for Reconstruction and Development with 186.7 million, the International Finance Corporation with 154.1 million and the EIB with 280.4 million.