Supporting Greece’s municipalities through InvestEU: EIB Advisory with CDLF on sustainable urban investment

• EIB Advisory, under InvestEU, to support CDLF in scaling up sustainable urban investment in Greece
• Strengthening municipal capacity to develop climate-resilient projects in areas such as energy, water and urban regeneration
• Facilitating access to financing through improved project preparation and investment planning

The European Investment Bank (EIB), with the support of the InvestEU Advisory Hub, will work with the Consignment Deposits and Loans Fund (CDLF) to strengthen sustainable urban development across Greece.

The initiative aims to support municipalities in addressing pressing investment needs related to ageing infrastructure, climate change and social inclusion. It will focus on key sectors such as urban regeneration, energy efficiency, sustainable mobility, water management and social housing, contributing to more resilient and inclusive cities.

The cooperation builds on the EIB’s longstanding partnership with CDLF, Greece’s main public financial institution supporting local authorities. CDLF plays a central role in mobilising and channeling national and European resources into municipal investments, including in the context of the EU Climate-Neutral and Smart Cities Mission.

The advisory support is funded under the EU Climate-Neutral and Smart Cities Mission and builds on earlier EIB Advisory support to help Greek cities deliver on their climate-neutral and smart city goals.

With the support of the InvestEU Advisory Hub, the EIB will assist CDLF in strengthening its capacity to identify and prioritise investment needs and to support municipalities in developing high-quality, sustainable projects aligned with European and national objectives.

The advisory support will also contribute to improving access to financing by helping structure viable investment programmes and exploring appropriate funding solutions, including a combination of European, national and institutional financing sources.

In addition, the cooperation will support capacity building and knowledge sharing, helping CDLF and local authorities enhance project preparation and implementation, while promoting integrated approaches to sustainable urban development.

“Greek municipalities are facing increasing pressure to modernise infrastructure, address climate risks and deliver better services to citizens. Through InvestEU Advisory, the EIB is partnering with the Consignment Deposits and Loans Fund to help transform these challenges into tangible investment opportunities. By strengthening project preparation and access to financing, this initiative will contribute to more sustainable, resilient and inclusive cities across Greece.”said EIB Vice-President Yannis Tsakiris.

“We continue our long-standing excellent cooperation with the EIB, this time within the framework of Invest EU, substantially strengthening our ability to support Local Governments in the design and implementation of mature projects to enhance sustainable urban development in Greece. This Agreement provides specialized advisory support to further enhance the development potential of Local Governments, as it facilitates both the identification and prioritization of investment needs as well as the access to the required financing for their implementation. With consistency and institutional responsibility, the Consignment Deposits and Loans Fund continues to support sustainable investments with a substantial impact on the national economy and local communities,” stated the Chair of the Board of Directors of the Consignment Deposits and Loans Fund, Stamatina Papadongona

About InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to crowd in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is deployed through implementing partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Background information    

The EIB Group   

The European Investment Bank (ElB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion of new financing and advisory services for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union. Beyond long-term loans for large infrastructures, the EIB Group crowds-in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations. 

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium size businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilizes private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs. 

In 2023, the EIF together with six member states (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale-up innovative startups. This initiative has already enabled the creation of  13 European venture capital mega-funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital). 

About the Consignment Deposits and Loans Fund (CDLF)

The Consignment Deposits and Loan Fund is a Legal Entity of Public Law, which operates under the supervision of the Ministry of Finance.

In addition to its historical role as the exclusive custodian of consignments, in its 107 years of uninterrupted operation, its main mission has been to support the regional development of the country and serve the public and social interest.

The CDLF finances Local Government Organizations, legal entities and public bodies for the execution of infrastructure projects or projects of general interest and provides technical support, directly or in collaboration with other bodies.

Over the last six years, approved loans from its own resources exceeded €252 million, confirming the Fund's active role in financing development interventions.

Of particular importance is its contribution, in collaboration with the European Investment Bank and the Ministry of the Interior, to the designing and implementation of the "ANTONIS TRITSIS" program, within the framework of which loans of over €3 billion have been contracted, of which approximately €2.2 billion have already been disbursed.

The Fund's many years of experience in enhancing Local Governments, through the financing of infrastructure projects, public benefit and long-term interventions throughout the country, makes it a stable development partner with a strong social orientation and an active contribution to the implementation of sustainable investments.