Greece has selected international advisers for the first round of an ambitious EUR 50 bn privatisation programme aimed at averting a forced restructuring of its sovereign debt, the Financial Times has reported.

The finance ministry named financial and legal advisers for two big concession projects to operate Athens airport and develop a luxury resort. It said BNP Paribas and National Bank of Greece would advise on extending a 20-year concession to operate Athens international airport, currently held by Germany's Hochtief group.

Citigroup and Greece's Piraeus Bank were named as advisers on a concession to develop the 1,500-acre site of the former Athens international airport in a coastal suburb as a luxury tourist resort.