EIB Advisory to Bolster Athens Water Utility EYDAP’s Investment Initiative

(IN BRIEF) The European Investment Bank (EIB) will provide advisory services to the Athens Water Supply and Sewerage Company (EYDAP) in Greece to support its €2 billion, 10-year investment programme. This initiative aims to enhance the resilience of Athens’ water supply against climate risks like water scarcity, droughts, and heatwaves. EIB’s technical assistance, offered for free through the InvestEU Advisory Hub, will help EYDAP prioritize and implement projects to optimize efficiency and climate adaptation. This partnership underscores the EIB’s role in building climate-resilient water systems and overcoming investment barriers to ensure sustainable water access for Athens’ 4.4 million residents.

(PRESS RELEASE) LUXEMBOURG, 5-Jul-2024 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union announces that it has committed to providing advisory services to the Athens Water Supply and Sewerage Company (EYDAP) in Greece. This support is aimed at assisting EYDAP’s €2 billion, 10-year investment programme, which focuses on enhancing the resilience of the water supply for the Greek capital.

As part of the agreement signed today in Athens, EIB Advisory will aid EYDAP in addressing climate risks such as water scarcity, droughts, and heatwaves. EYDAP serves a population of 4.4 million and operates an extensive 14,500-kilometre pipeline network.

Falling under the InvestEU Advisory Hub’s scope, the EIB’s technical assistance will help EYDAP prioritize actions and implement projects to optimize efficiency and climate change adaptation.

“Greece, like many other countries, faces multiple climate risks impacting its infrastructure and public services,” stated EIB Vice-President Ioannis Tsakiris. “Our advisory services will enable EYDAP to make well-structured and targeted investments to secure water, our most precious resource.”

“This partnership marks a significant advancement in our commitment to providing clean and sustainable water and wastewater solutions across Athens and the Attica Region,” said EYDAP CEO Harry Sachinis. “We are confident that with the EIB’s support, EYDAP can make a lasting positive impact, ensuring clean water access at affordable prices for everyone.”

This agreement reinforces the EIB’s role as the EU climate bank. Building climate-resilient water systems and enhancing water security are crucial components of this role. Through its advisory services, the EIB is dedicated to helping local partners overcome investment barriers and ensuring that financed projects effectively address market failures and investment gaps.

InvestEU Advisory Platform

The InvestEU Advisory Hub offers support to public and private project promoters in the EU for developing investment projects. It also assists financial intermediaries and project promoters in enhancing their capacity to implement financing and investment operations.

As part of the InvestEU Programme, the Advisory Hub aims to trigger a new wave of investments, exceeding €372 billion, utilizing an EU budget guarantee. The InvestEU Programme, including the InvestEU Fund and the InvestEU Portal, seeks to boost investment, innovation, and job creation in Europe from 2021 to 2027.

Background information

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

 The European Investment Bank Group (EIB Group), consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), reported total financing signatures in Greece of €2.5 billion in 2023, 32% of which went to supporting climate action and environmental sustainability projects. Overall, the EIB Group signed €88 billion in new financing in 2023.

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SOURCE: European Investment Bank

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