EIB to loan PPC 235 mln for improvement of Greek electricity network

The European Investment Bank (EIB) is making a 235-million-euro loan to Public Power Corporation (PPC) to improve Greece’s electricity network, it announced on Monday.

“The multi-investment program covering the period 2013-15 aims at renovating and reinforcing the electricity distribution network, as well as extending it to enable some 186,000 new connections throughout peninsular and insular Greece,” the EIB said in a statement.

“The investment program will benefit consumers and suppliers by improving the electricity distribution infrastructure and increasing the effectiveness of electricity supply in meeting demand.”

The EIB said that it has loaned a total of 4.6 billion euros to the energy sector in Greece since the country joined the European Union.