EIB Advisory supports EYATH

The European Investment Bank (EIB), with the support of the InvestEU Advisory Hub, will provide advisory services to the Thessaloniki Water Supply & Sewera/ge Co. S.A. (EYATH) to help develop a long-term investment programme aimed at strengthening the sustainability, resilience and efficiency of water and wastewater infrastructure across the Greater Thessaloniki area, within the context of the European Commission Climate-Neutral and Smart Cities Mission.

EYATH provides water supply, sewerage and wastewater services to around 1.3 million people across the Greater Thessaloniki area. Ensuring the reliability, efficiency and resilience of these essential services is increasingly important as cities face growing pressures from climate change, rising demand and the need to use water and energy resources more efficiently.

Through EIB Advisory, EYATH will receive support to assess its existing infrastructure and future investment needs and to develop a prioritised investment programme covering the short, medium and long term. The programme will identify potential investments to modernise and rehabilitate water and sewerage networks, reduce water losses, improve energy efficiency and digital monitoring, and strengthen wastewater treatment, water reuse and circular-economy solutions.

The advisory support will also help EYATH assess potential financing options and prepare priority projects for further consideration. This will include support during the relevant EIB appraisal processes and the development of the information needed to assess the feasibility and potential financing of future investments.

The initiative forms part of the broader efforts to support Thessaloniki’s transition towards a more sustainable, climate-neutral and resilient city. Thessaloniki is one of the EU cities participating in the European Commission Climate-Neutral and Smart Cities Mission, and the EIB is already supporting the city’s wider investment programme through financing for sustainable urban development and climate resilience.

Within this broader framework, investments in water and wastewater infrastructure can play an important enabling role by strengthening climate resilience, improving resource and energy efficiency, reducing water losses and supporting circular-economy solutions.

The EIB will work closely with EYATH, the Municipality of Thessaloniki and other relevant stakeholders to support effective investment planning and project preparation. The cooperation will contribute to developing a clear pipeline of potential investments and to strengthening the long-term sustainability and resilience of water services for the people of Thessaloniki.

“Water is one of the most essential services for every community, and investing in resilient water infrastructure is an investment in the long-term future of our cities. Thessaloniki is growing and changing, while climate change is placing new pressures on water resources and infrastructure. By helping prepare high-quality, sustainable investments today, we are laying the foundations for better services, stronger infrastructure and a more resilient Thessaloniki for generations to come,” said EIB Vice-President Yannis Tsakiris

“The climate crisis is here. It was only last month that Europe witnessed unprecedented scenes, with major rivers like the Danube and the Rhine dropping to record-low levels. Our country ranks 19th globally in water scarcity risk. The challenges are such that inaction is not an option. That is why we are joining forces. We are putting an end to fragmentation and disjointed efforts. In July, we signed an agreement with the European Investment Bank (EIB) and the Athens Water Supply and Sewerage Company (EYDAP). Today, the Thessaloniki Water Supply and Sewerage Company (EYATH) is also moving forward in cooperation with the EIB, in order to draw on European expertise. Our infrastructure for water supply, sewerage, wastewater treatment, and circular economy has a direct impact on citizens’ quality of life. That is why we proceeded with a bold institutional reform on water. We created the country’s first National Water Strategy. We are implementing €3.4 billion worth of projects across half of the country’s municipalities. And, most importantly: we are cooperating. I warmly thank EYATH and the EIB for this agreement, because only together can we build a sustainable, resilient future, with access to sufficient, quality water for all,” said Minister of Environment and Energy Stavros Papastavrou.

“EYATH’s cooperation with the European Investment Bank, through the InvestEU Advisory Hub, marks a pivotal step towards adopting a comprehensive, long-term strategy for water management in Thessaloniki and the wider region.The recent reform of Greece’s water sector, under which EYATH assumes a central role through the integration of 25 water supply and irrigation providers across Thessaloniki and Halkidiki, creates the need for a new architecture for water resource management. This, in turn, requires well-founded investment planning, clear priorities and the effective utilisation of available financing instruments.This is precisely where the EIB’s expertise can prove instrumental, enabling us to plan the next step with greater confidence: a modern, resilient and financially sustainable water supply and wastewater management system, capable of fully meeting the needs of Thessaloniki and the wider region for decades to come.”, said, Anthimos Amanatidis, CEO of EYATH S.A

EIB’s role in supporting a climate-neutral Europe

As the EU’s climate bank, the EIB plays a critical role in financing and advising projects under the Climate Neutral and Smart Cities Mission.  It has dedicated a EUR 2bn lending envelope to mission label cities.  In addition dedicated advisory support is available to the cities to support the implementation of projects in their investment plans.