PIRAEUS PORT EXPANSION (EIB-20170773)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
PIRAEUS PORT AUTHORITY SA
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Corporate Actor Documents
Primary Source

Original disclosure @ EIB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Dec 29, 2017


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the EIB website, the loan concerns the expansion of the Piraeus port in Athens, specifically the cruise and car terminals, the improvement of infrastructure in the ship repair zone, the repair of the container terminal yard area, dredging of the central port area. It will also cover the development of a logistics centre and associated infrastructure as well as other smaller components to expand the port's size and capacity and transform the surrounding area.

The port of Piraeus is the main sea gateway of Greece and one of the largest in the Mediterranean since its landscape makes it a focal contact point between the islands and the mainland, as well as an international marine tourism and transit trade center. The project includes a number of components, some of which are part of a circa EUR 300m compulsory investment programme and others in addition to this that have been selected in order to upgrade the port's infrastructure and services.

Investment Description
  • European Investment Bank (EIB)

*The proposed finance is not being disclosed at this project stage*

Private Actors
Contact Information

*There is no further contact information available at the project stage*

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form, via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces