The European Investment Bank (EIB) is loaning the Greek government €180 million ($199 million) for the construction of the New Heraklion International Airport in Greece.
The new airport will replace the existing airport in the region, doubling the passenger capacity for the island of Crete, according to the Center for Aviation. The current airport is one of three civil airports on Crete and, with 8.1 million passengers per year, is the second-busiest in Greece.
The 28-year loan was agreed by EIB executives and Greek officials during a visit to Athens on Jan. 23.
“Today marks a key milestone in the history of aviation in Greece that will unlock the full tourism potential of the beautiful island of Crete,” said Christos Staikouras, minister of finance of the Hellenic Republic and governor of the EIB.
Kostas Karamanlis, minister of infrastructure and transport, called the €517