EIB approves €180m loan to help finance new Heraklion airport

The European Investment Bank is providing a €180 million loan to support the construction of the New Heraklion International Airport on the Greek island of Crete. 

The new airport -built at Kasteli, 30km from Heraklion, will replace the current airport serving the area. The 28 year EIB loan means construction on the airport can finally start after years of planning and delays. The work - which will include a new 18km motorway and 6km access road - is expected to take five years.