The city of Athens has borrowed about $200 million for projects that will help refurbish the city in time for the 2004 Athens Summer Olympic Games.
The Greek government is guaranteeing the loans for the projects from a Swiss banking consortium and from the Agriculture Bank of Greece.
Greece has already agreed on a $1.5 billion loan from the European Investment Bank to finance the 2004 Games.
The money will be used to repave 140 kilometres of road, build playgrounds and parks, and repaint and refurbish building facades.
Also, illegal billboards have been removed from areas of the city centre and officials have asked building owners to reduce the number of television antennas from almost every rooftop.
