Brussels, 01/06/2012 (Agence Europe) - The European Commission is to provide, through the structural funds, almost 80% of the funding for a road project in Greece. The total cost of the project is estimated at €232.43 million, €180.9 million of which will come from the European Regional Development Fund (ERDF). The trunk road will connect the Aktio area with the Western North-South Axis in Greece; it is part of the Trans-European Transport Network (TEN-T). This major infrastructure project is one of 181 priority projects, identified by the Greek authorities last year for their high investment value, which will be co-funded by the EU. These projects will make use of European structural funds to accelerate the return of growth in Greece. The road project will create thousands of jobs and, by making the region more easily accessible, attract investment to it. Regional Development Commissioner Johannes Hahn said: “Our joint efforts to overcome financial and technical problems are progressively paying off. This and other similar projects will contribute to the improvement of the living conditions of the Greek people by creating immediate job opportunities.” The Commission also recently approved other major works, such as the renovation of electric railways and the introduction of low-emission urban buses. Its approval is still awaited for other projects worth €50 million. (MD/transl.rt)