EIB Loans $327M For Electricity Network Upgrades In Greece

Law360, New York (March 17, 2014, 5:46 PM EDT) -- The European Investment Bank said on Monday that it has provided a €235 million loan ($327.3 million) to Greece’s Public Power Corp. SA, the country’s largest electricity company, to help support upgrades to the electricity network in Greece.

The loan will go toward what the EIB described as a multi-investment program that runs through 2015 aimed at renovating and reinforcing Greece’s electricity distribution network, as well as extending that network to enable approximately 186,000 new connections throughout Greece.

The investment program will benefit consumers and suppliers...
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