ECONOMY

Funding boost for highways

Development Minister Costis Hatzidakis confirmed on Wednesday that the European Commission will cover virtually all funding for the reconstruction of highways conceded to private companies in Greece.

He said that Brussels has agreed to provide 811 million euros, as Athens had requested to, boosting the country’s Public Investments Program.

“The fact that the European Commission is inclined from now to accept to pay these funds that will cover the whole of the state’s funding contribution for the construction of the projects is indicative of the progress made in negotiations for the highways,» said Hatzidakis.

The inclusion of the 811 million euros in the National Strategic Reference Framework funds absorbed in the first half of the year raises Greece’s absorption rate 69.3 percent above the bailout program’s target.