EIB Signs Advisory Agreement with Greek Municipalities to Support Climate-Neutral and Smart City Goals

Strategic Insights -

The European Investment Bank (EIB) has signed a new advisory agreement with six Greek municipalities to support the design and implementation of local investment strategies aligned with their climate neutrality and smart city objectives. Under the agreement, EIB Advisory will provide tailored support to help cities prepare and implement sustainable investment plans, focusing on areas such as sustainable urban mobility, energy efficiency, renewable energy, nature-based solutions, circular economy, and smart city infrastructure. The agreement aims to accelerate the transition towards sustainable, inclusive, climate-neutral, and smart urban development in Greece.

Key Takeaways:

  • The EIB has signed an advisory agreement with six Greek municipalities (Athens, Thessaloniki, Kozani, Trikala, Ioannina, and Kalamata) to support their climate neutrality and smart city goals.
  • The agreement is part of the InvestEU Advisory Hub and aims to provide tailored support to help cities prepare and implement sustainable investment plans.
  • The EIB experts will focus on areas such as sustainable urban mobility, energy efficiency, renewable energy, nature-based solutions, circular economy, and smart city infrastructure.
  • The agreement aims to accelerate the transition towards sustainable, inclusive, climate-neutral, and smart urban development in Greece.
  • The EIB will work with the European Commission Climate Neutral and Smart Cities Mission to support Mission Labelled cities in transforming their ambitious investment plans into a pipeline of projects.
  • The agreement is part of the EIB Group's broader engagement in Greece under the Green Transition and Just Transition agenda.

Statistics:

  • The EIB has dedicated a EUR 2bn lending envelope to Mission label cities.
  • The EIB Group signed nearly EUR 89 billion in new financing for over 900 high-impact projects in 2024.
  • Almost 60% of the EIB Group's annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
  • The Group supported a record of over EUR 100 billion in new investment for Europe's energy security in 2024.
  • Approximately half of the EIB's financing within the European Union is directed towards cohesion regions.

Sources:

  • European Investment Bank. (n.d.). EIB Signs Advisory Agreement with Greek Municipalities to Support Climate-Neutral and Smart City Goals.
  • European Investment Bank. (2024). Annual Report 2024.
  • European Commission. (n.d.). InvestEU Advisory Hub.
  • European Commission. (n.d.). Climate Neutral and Smart Cities Mission.
  • European Investment Bank. (n.d.). About EIB Advisory.