The European Investment Bank (EIB) will provide advisory support to Growthfund, Greece’s National Investment Fund, to help strengthen the climate resilience of key Greek ports. This initiative will focus on conducting Climate Risk and Vulnerability Assessments (CRVAs) for the ports of Volos, Alexandroupoli, and Patras, supporting their adaptation to climate change challenges.

Under the agreement, EIB Advisory will assist the corresponding port authorities in identifying and addressing physical climate risks which could impact port infrastructure and operations, such as coastal flooding, rising sea levels, and extreme weather events. These assessments will help define specific adaptation measures to enhance long-term sustainability and economic resilience.

“Ports are critical for Greece’s economy and connectivity, but they face increasing risks due to climate change,” said EIB Vice-President Ioannis Tsakiris. “By working with Growthfund, we aim to provide structured assessments and strategic solutions to protect vital port infrastructure and ensure its long-term viability.”

Panagiotis Stampoulidis, Deputy CEO of Growthfund, referred to the cooperation between Growthfund and the EIB as the second substantial partnership between the two institutions, which further strengthens their contribution to the development of public infrastructure by making services more competitive and sustainable. “Climate change is one of the greatest challenges of our time, and ports — as critical infrastructure for the Greek economy, society, and the country’s connectivity — are at the forefront of this challenge. Our collaboration with the Advisory Services of the European Investment Bank is fully aligned with Growthfund’s strategic planning to strengthen key public infrastructure.

Through targeted Climate Risk and Vulnerability Assessments (CRVAs), we aim to ensure that the ports of Volos, Alexandroupolis, and Patras are better protected against extreme weather events and the broader effects of the climate crisis.

Growthfund, leveraging its international network, technical expertise, and alignment with European best practices, actively contributes to the creation of a more sustainable and resilient development model for the country.”

A key step in climate-proofing infrastructure

The advisory support will be structured around three key tasks:

Baseline assessment: analysing climate data and historical extreme weather events affecting the selected ports.
Climate Risk and Vulnerability Assessment (CRVA): identifying climate risks, assessing their impact, and proposing adaptation measures.
Financial impact assessment: estimating how climate risks could affect operational costs, revenues, and investment needs.
The project aligns with EU climate policies and best practices, including the European Commission’s Technical Guidance on Climate Proofing Infrastructure and PIANC’s guidelines for climate adaptation in ports and waterways.

The EIB’s commitment to sustainable development

The agreement reinforces the EIB’s role as the EU Climate Bank, supporting investments that build resilience and promote sustainable infrastructure. Through its advisory services, the EIB helps public and private stakeholders overcome investment barriers, ensuring that climate-proofing measures are both effective and financially viable.

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.

Source: European Investment Bank (ElB)