The Greek State will guarantee a 35 million-euro loan extended to IPTO, the Independent Power Transmission Operator, by the European Investment Bank, the country’s Finance Ministry has decided. The decision was recently published in the Official Government Gazette.
According to the EIB’s terms, the loan, set at a fixed interest rate of 2.125%, will run for a total of twenty years, including a grace period of five-and-a-half years. Payments will be made every six months, on June 29 and December 29 of each year, beginning on June 29, 2020, and ending on December 29, 2034.
The loan, according to IPTO, will be used to finance high-voltage development projects throughout the country.