The Greek government on Thursday signed two loan agreements in Athens with the European Investment Bank (EIB) to the tune of 330 million euros (365 million U.S. dollars) to support projects in various sectors, including the construction of a new airport on Crete Island, Greek national news agency AMNA reported.

Under the first of the two agreements signed at the Greek Finance Ministry, the EIB will provide an 180-million-euro loan to support the construction of the new Heraklion international airport.

The airport will replace the existing one which during the summer tourism season is heavily congested, according to an e-mailed EIB press release.

The 28-year EIB loan will finance the state contribution to the 517-million-euro project and construction is expected to last five years, AMNA added.

"Today marks a key milestone in the history of aviation in Greece that will unlock the full tourism potential of the beautiful island of Crete," said Greek Finance Minister Christos Staikouras.

Under the second agreement, EIB will also further support priority investment projects intended to enhance energy efficiency, tackle climate change, improve small business competitiveness, accelerate research and innovation, and support health, education, culture and urban regeneration initiatives across Greece, according to AMNA.

The 150-million-euro loan is part of a 18.6 billion euro investment program in the framework of the Partnership Agreement 2014-2020 that has been financing small and medium-sized priority schemes across Greece since 2014, according to an EIB press statement.(1 euro= 1.1 U.S. dollars)