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Date: 22nd May 2025
Paving the way for Crete’s future.
Congratulations to the four systemic Greek banks, Alpha Bank, Eurobank, Piraeus and National Bank of Greece project finance teams, on the €1.3 billion financing of the new Northern Road Axis of Crete (BOAK), awarded to GEK TERNA through a concession agreement with the Hellenic Republic.
The total project value amounts to approximately €2 billion, including funds covered by the Recovery and Resilience Facility.
This landmark infrastructure project marks a new era for Crete, significantly enhancing road safety, connectivity, and economic development on the island.
Our team acted as Lenders’ Counsel, supporting one of the largest transport infrastructure financings in Greece to date.
This project was led by our head partner of Project Finance and Development, Yannis Kourniotis and our head partner of Banking & Finance, Prokopis Dimitriadis, with the support of partner Konstantina Siozou, senior associates Thodoris Papadatos, Magdalini-Christina Vlachou-Vlachopoulou as well as associates Christina Kyrgialani, Angeliki Kaperoni, Christos Kostopoulos and Dimitra Kalantoni.
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