EIB confirms EUR 55 million backing for Athens’ urban investment on the way to a smart city
Transformational investment totalling EUR 190 million in transport, waste, energy efficiency, culture and urban rehabilitation schemes across Athens will be backed by a new EUR 55 million from the European Investment Bank. The citywide investment initiative will create jobs, unlock urban regeneration and ensure that climate risks can be better managed in the Greek capital in the years ahead.griechischen Hauptstadt in den kommenden Jahren sicher.
The capital of Greece is investing heavily in modernizing historic public buildings, improving education and health facilities and tackling the challenges of climate change. “Technical know-how gained through global cooperation with cities maximizes the impact of new investments and ensures the benefits for future generations in this city,” says George Kaminis, Mayor of Athens.
As in Athens, the European Investment Bank (EIB) finances Europe-wide “green” and “blue” infrastructure for “smart” cities. Cities’ green concepts have many positive benefits, reducing the risk of floods, tackling the negative effects of heat waves, improving local air and water quality, strengthening social cohesion and increasing overall attractiveness and quality of life. Green and blue infrastructure elements in a city can be financed as a stand-alone project, as part of a larger investment scheme for an urban area or as part of a social housing scheme. Revenue streams or cost savings for green and blue infrastructure investment in cities can take a number of different forms: funding through taxes, fees, credits, crowd funding, payment for ecosystem services schemes. In this context, the EIB supports the EU Urban Agenda with a particular focus on sustainable land use and nature-based solutions.
EIB