Greece to Pour €3b into Repair and Upgrade Works in Flood-hit Thessaly

Greek Prime Minister Kyriakos Mitsotakis (center) and Infrastructure and Transport Minister Christos Staikouras announcing the upgrade works that are to take place in Thessaly. Photo source: Press office of the PM

Greek Prime Minister Kyriakos Mitsotakis announced this week that 3 billion euros would be channeled into reconstruction, repair, and upgrade works in the Region of Thessaly, Central Greece, which was hit by destructive floods last fall.

Addressing an Infrastructure and Transport Ministry event held in the town of Mouzaki in Karditsa, attended by Infrastructure Minister Christos Staikouras and local officials, Mitsotakis confirmed that the total restoration of flood damage is expected to exceed 3 billion euros and will be overseen by the ministry. The funds will cover repairs to towns and villages impacted by storms Daniel and Elias which hit Central Greece last year.

Of the 3 billion euros, “1.4 billion euros concerns road and railway infrastructure and the restoration of schools,” said Mitsotakis. The goal, he added, is to ensure that no citizen of Thessaly feels “isolated or ignored” by the state.

Among others, ensuring resilience of infrastructure is a top priority expected to cost the Greek state more than 1.4 billion euros, of which 900 million euros will go into road works and 463 million euros into railway projects.

Additionally, during the event, the Union of Greek Shipowners (UGS) announced that it would be offering 50 million euros for the upgrade of schools in the region.

Broken down, the funds will be allocated to the regional units as follows: 33 percent of the total to Magnesia, 25 percent to Trikala, 21 percent to Karditsa, 9.5 percent to Larissa, 9.5 percent to Evia, and 2 percent to Fthiotida.

The projects have been included in the government’s fast-track procedures with tenders set to be announced this summer.

Earlier this year, the European Solidarity Fund (EUSF) agreed to grant Greece some 25.3 million euros in advance payment to address the flood damage.