EIB Supports Climate-Proofing Efforts for Ports of Volos, Patras, and Alexandroupoli

EIB Supports Climate-Proofing Efforts for Ports of Volos, Patras, and Alexandroupoli

(IN BRIEF) The European Investment Bank is teaming up with Growthfund to carry out Climate Risk and Vulnerability Assessments for the ports of Volos, Alexandroupoli, and Patras in Greece. The initiative will identify physical climate risks, propose adaptation measures, and assess the financial impacts to help future-proof port infrastructure. It supports the EIB’s broader mission as the EU Climate Bank and aligns with key European guidelines for sustainable infrastructure planning.

(PRESS RELEASE) LUXEMBOURG, 23-Apr-2025 — /EuropaWire/ — In a bid to enhance the resilience of Greece’s port infrastructure against climate change, the European Investment Bank (EIB) will provide targeted advisory services to Growthfund, the Hellenic National Investment Fund. The initiative will focus on performing Climate Risk and Vulnerability Assessments (CRVAs) for the strategic ports of Volos, Alexandroupoli, and Patras, aiming to prepare these hubs for the growing threats posed by extreme weather, coastal flooding, and rising sea levels.

This advisory support—delivered through EIB Advisory—will assist local port authorities in identifying the physical climate hazards their infrastructure faces and proposing appropriate adaptation measures. The project is designed to ensure long-term operational sustainability and safeguard economic connectivity in key regions of Greece.

“Ports serve as vital economic arteries for Greece, and climate change is increasingly putting them at risk,” said EIB Vice-President Ioannis Tsakiris. “Through this collaboration with Growthfund, we’re helping chart a clear course toward protecting these critical assets.”

Growthfund Deputy CEO Panagiotis Stampoulidis emphasized the importance of the partnership, noting that this marks the second major cooperation between the two institutions. “Ports are essential to our country’s economy and connectivity. With this initiative, we aim to reinforce their resilience and sustainability in the face of a changing climate. The EIB’s expertise, combined with Growthfund’s strategic planning and alignment with European standards, ensures we’re building smarter, future-ready infrastructure,” he said.

The CRVAs will be built around three core elements:

• Baseline analysis, assessing local climate trends and past extreme events

• Risk and vulnerability evaluation, identifying threats and mitigation strategies

• Financial impact modeling, estimating the economic implications of climate-related disruptions

This project aligns with European Union climate standards, such as the European Commission’s guidance on infrastructure climate-proofing and PIANC’s adaptation guidelines for ports and waterways.

The initiative is a testament to the EIB’s wider mission as the EU Climate Bank, actively supporting efforts to climate-proof infrastructure through advisory expertise that helps bridge the gap between policy, investment, and impact.

EIB  

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers.Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

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SOURCE: European Investment Bank