The European Investment Bank and Piraeus Bank have provided financing to the Aktor Group for the University of Crete Student Accommodation Public-Private Partnership project.
According to the EIB, “the project concerns the design, construction, financing and operation of student accommodation and other facilities for the University of Crete using the public-private partnership, design-build-finance-operate-maintain procurement method.”
In addition, EIB reports, “the aim is to create student accommodation in areas with acute shortages, providing increased amounts of lower cost accommodation that enables students from lower-income families to access higher education and decreasing living costs for some students in these locations. The project will also create new educational infrastructure to address existing shortages in teaching space. The University of Crete aims to further improve the quality and relevance of the teaching in the higher education sphere, which has been blighted by under investment nationally, in particular during the years following the financial crisis.”
The Kyriakides Georgopoulos law firm advised EIB on the financing.