The Ministry of Environment, Energy & Climate Change and the Attica Regional Authority have just approved (12.02) the funding for a project to revamp the centre of Athens, scheduled to be completed by the end of 2016.

A total of €78.5 million will be allotted to transform the central Athenian thoroughfare Panepistimiou into a promenade, with the tram running from its current terminus at Syntagma Square to Egyptou Square at the beginning of Patission. The courtyard of the National Archaeological Museum, among others, will be getting a facelift. It is expected that the extension of the tram line and related traffic measures will breathe new life into the center of Athens.

Greek News Agenda: Time to Rethink Athens

Over €27 million has been earmarked to improve competitiveness and entrepreneurship in the downtown area of the capital, as part of the "Ergo Athina" (Project Athens) initiative, which has secured €120 million from the European Union. The Municipality of Athens has implemented actions to boost cutting-edge sectors, either by using its own resources and services or by collaborating with other organizations.

During an event organized by the municipality, mayor Giorgos Kaminis said: "(...) in cooperation with 10 major organizations, we have designed a programme to stimulate entrepreneurship in the capital... The results will include the creation of hundreds of new jobs, the setting up of new and innovative companies mainly by young entrepreneurs and the support of hundreds of small and medium-sized enterprises (SMEs)."

Greek News Agenda: Athens Mayor Presents EU-funded Development Plan