Attiko Metro has secured $663m (€580m) from the European Investment Bank (EIB) to fund the construction of Athens Metro New Line 4 in Greece.

The 30-year loan, which marks the country’s biggest financing for transport, will be used to build Athens Metro Line 4 – Section A’ – Alsos Veikou – Goudi, including 15 new underground stations.

This forms the second part of the EIB’s €730m funding package being offered for the project. The agreement for the first part of the financing package of €150m was struck in 2019.

EIB vice-president Christian Kettel Thomsen said: “Over the last 30 years, the EIB has supported visionary investment by Attiko Metro that has reduced traffic jams and improved travel for Athenians and visitors.

“Today I am pleased to join Attiko Metro to formally agree our largest ever backing for transport in Greece and confirm our support for Line 4.”

The Metro New Line 4, known as the U-Line, will comprise 35 stations, covering 38km. It will pass through populated areas of central Athens, crossing existing Lines 2 and 3.

Attiko Metro CEO Kouretas said: “In cooperation with the Ministry of Infrastructures and Transportation, Minister K Karamanlis and Deputy Minister, G Karayiannis, Attiko Metro continues the implementation of the new extensions of the Metro network in Athens and Thessaloniki based on its ambitious programme concerning the extensions of its networks.

“This essentially contributes significantly to the financial development of our country and secures thousands of jobs, and at the same time it gives the opportunity to an increasing number of citizens to enjoy safe, comfortable, fast and reliable travel using environmental friendly mass transport modes.”

The Athens Metro Line 4 Section A, which is around 13km-long, is planned to be completed in nearly eight years.

The Metro Line 4 will comprise two radial legs to Galatsi and Maroussi in addition to one central part that runs through the centre of Athens. It will incorporate sections A, B, C, D and E.