The European Investment Bank will work with Greece’s Consignment Deposits and Loans Fund to help municipalities prepare and finance sustainable urban projects, supported by the InvestEU Advisory Hub.
The support is designed to help local authorities address investment needs linked to ageing infrastructure, climate change and social inclusion, the EIB announced on Monday.
It will focus on areas including urban regeneration, energy efficiency, sustainable mobility, water management and social housing.
The European Investment Bank said the cooperation builds on its existing partnership with the Consignment Deposits and Loans Fund, a public financial institution that supports Greek local authorities and helps channel national and European resources into municipal investments.
Project preparation and access to finance
The advisory support will help the Consignment Deposits and Loans Fund strengthen its capacity to identify and prioritise investment needs and support municipalities to develop sustainable projects aligned with European and national objectives, the European Investment Bank said.
It will also help improve access to financing by supporting the structuring of “viable investment programmes” and exploring funding options that can combine European, national and institutional sources.
Greek municipalities are under pressure to modernise infrastructure, address climate risks and improve services, EIB Vice-President Yannis Tsakiris stated.
The agreement will provide specialised advisory support to help local governments design and implement “mature projects” for sustainable urban development, and make it easier to identify investment needs and access financing, said Stamatina Papadongona, chair of the board of directors of the Consignment Deposits and Loans Fund.
