Greek Rail Network to Undergo Major Modernization with EIB Support

Greek Deputy Minister for Infrastructure and Transportation Nikos Tachiaos (third from left), Infrastructure and Transport Minister Christos Staikouras and EIB Vice President Ioannis Tsakiris and Greek Deputy Minister for Infrastructure and Transportation Vasilis Oikonomou. Photo source: EIB

The European Investment Bank (EIB) has partnered with Greece to support a major national railway upgrade aimed at improving safety, reliability, and sustainability, according to n announcement on Thursday.

Under the agreement with the Greek Ministry of Transport and Infrastructure, the EIB will assist in crafting a long-term business plan for a newly established rail infrastructure management company and in planning immediate network investments.

Roadmap for Railway Development

The collaboration, part of the InvestEU program, underscores Greece’s commitment to modernizing its rail sector in alignment with European Union safety and environmental standards. It also reinforces the EIB’s dedication to fostering advanced, sustainable transport networks across the EU. The agreement was signed on October 24 by EIB Vice President Ioannis Tsakiris and Greek Infrastructure and Transport Minister Christos Staikouras.

“The EIB’s advisory services will offer the Greek government essential technical expertise, enabling the development of long-term strategies that ensure the railway system’s safety and competitiveness,” Vice President Tsakiris said. “This multiyear investment plan will serve as a strategic roadmap for Greece’s infrastructure advancement over the next decade.”

EIB’s Expertise to Shape Greece’s Rail Sector

Infrastructure and Transport Minister Christos Staikouras and EIB Vice President Ioannis Tsakiris. Photo source: EIB

On his part, Minister Staikouras highlighted that the European Investment Bank, with its extensive experience, will deliver a coherent strategic business plan essential for organizing the new rail entity.

“This plan will support government priorities for a modern, safe, fast, and interoperable network, meeting EU and Trans-European Transport Network standards,” he said.

Supporting Greece’s National Recovery and Resilience Plan

The EIB’s work will contribute to Greece’s National Recovery and Resilience Plan, which mandates the adoption of a multiyear investment strategy by mid-2025, aiming to guide rail investments over the next two decades.

Over the six-month assignment period, the EIB will work with external service providers to accomplish three primary objectives:

– Develop a strategic business plan for the new rail infrastructure organization.
– Prepare a medium-term (2025–2034) implementation plan for the railway sector.
– Create a comprehensive funding strategy to prioritize critical projects.

Strategic goals for Greece’s rail network

Greece’s rail sector modernization focuses on a safer, fully interoperable system, aligned with Trans-European Transport Network (TEN-T) standards. Key goals include:

– Completing the Patras–Athens–Thessaloniki–Promachonas (PAThEP) corridor, a vital part of the TEN-T network.
– Expanding rail links to ports and industrial hubs to bolster economic infrastructure.
– Enhancing cross-border rail connections with Europe to improve regional integration.