The observatory is a big leap forward in measuring atmospheric parameters and building climate models for the south-eastern Mediterranean.
Summary sheet
The project concerns investments that will improve our understanding of the sources and impact of climate change and is expected to identify ways to mitigate and adapt to it, including economically, which is a priority on the European political and research agenda.
The new vessel will complement vessels of other countries in terms of coverage of the East Mediterranean Sea, the Black Sea and the Red Sea, which are quickly reachable from Greece. The geophysical observatory PANGEA will provide harmonized, reliable, and documented open access observational data of climate, energy and geophysical parameters. The project has two components: a) the marine component concerns the replacement of the existing oceanographic vessel R/V AEGAEO by a new, ocean-going, multi-purpose, state-of-the-art equipped research vessel b) the atmospheric component refers to the establishment of the Panhellenic Geographical Observatory of Antikythera (PANGEA), a national research infrastructure for climate change.
The project covers research facilities of a kind that are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU, though the project is covered by Annex II of the Directive in relation to urban development. The EIB ank's services will verify during appraisal whether an EIA is required by the competent authority. In addition, the proposed location for the new atmospheric research infrastructure is the island of Antikythera and is located within two Natura 2000 sites. One site is a Special Conservation Area (SAC) and the other is a Special Protection Area (SPA) for birds species. The Bank's services will verify during the appraisal the project's compliance with the Habitats and Birds Directive (92/43/EEC and 2009/147/EC) and the obtaining of other relevant environmental authorisations for both project components as required. The project will contain new construction of public buildings; therefore, compliance with directive 2010/32/EU on the energy performance in buildings will be verified during the appraisal.
The Promoter will have to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
Documents
Inside the project
How and Why
Tackling the brain drain
Why
- Fill the void for a fully equipped atmospheric and geophysical research station in southern Europe that can produce accurate data for climate models
- Bridge the financing gap for scientific projects in Greece
- Help tackle the brain drain that has deprived Greece of highly trained scientists
How
- The geophysical and atmospheric observatory will provide harmonized, reliable, and open-access data on climate, energy and geophysical parameters
- Both projects help scientists observe and predict climate change globally, including monitoring seismic activity
- Innovative construction of the research vessel: at 70 metres in length and 16 metres wide, it will be equipped with sizeable multi-purpose laboratories and spacious open decks.
- Data collection on sea temperature and salinity, sampling sea floor sediments
- Monitoring of the sea pollution on the surface, water column and the seabed, including the health of coastal and open sea habitats and their ecosystems
- Explore the deepest parts of the Mediterranean, including active underwater volcanoes, that could be the source of biotechnological discoveries and innovations
Sectors & Countries
We have not financed something like this in Europe. This is cutting edge infrastructure on these areas and it is fulfilling to see that the investment can also have an impact socially, by keeping researchers in Greece.
Related media
Athens bets on green infrastructure and biodiversity
A nature-based Athens climate adaptation project financed by a new EU initiative plants trees and birdhouses in a sea of concrete and asphalt—and makes life better for citizens
Climate tracking on a remote Greek island
A new Mediterranean climate change research centre on the Greek island of Antikythera will collect valuable data to help model the impacts of climate change in the region.
Related projects and stories
Finally safe
When southwestern Poland faced a devastating flood, the Racibórz Dolny reservoir protected millions, showing the power of better flood protection
Right to Complaint, Grievance Mechanism on Internationally Funded Projects
Latin America and the Caribbean receive billions of dollars from international organisations every year for projects that aim to transform lives and promote development.
A delicious solution
With its high-tech approach to sustainable aquaculture, Munich-based Oceanloop is taking shrimp farming into the 21st century.
Videos
Photogallery
General enquiries and comments
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.
Media enquiries
Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.
Complaints mechanism
Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero tolerance against fraud and corruption
The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.
Related publications