ECONOMY

Funds shifted toward highways

The government is about to scrap projects adding up to 700 million euros so it can use the funds to restart works on the country’s four main highways that have remained in limbo for almost three years.

Most of the abandoned projects, worth some 600 million euros, come under the regional development program of Attica, a funding instrument.

After meeting with Greek Infrastructure Minister Michalis Chrysochoidis in Brussels, the European commissioner for regional policy, Johannes Hahn, said on Tuesday that «to secure the funding of the roadworks, there are disposable resources that will have to be redistributed and committed accordingly, for instance through the transfer of funds between development programs…

“Once we have approved the projects, Greek authorities and the contractors will have to coordinate their efforts so as to complete them by the end of 2015.”