Release date: 10 April 2025
Promoter – Financial Intermediary
ATHENS WATER SUPPLY AND SEWERAGE COLocation
Description
The investment loan will finance the upgrade f the promoter's water and wastewater infrastructure across the majority of the Attica region, including Athens.
Additionality and Impact
The project will support investments in water and wastewater infrastructure in EYDAP's service area.
EYDAP's service area covers the majority of the Attica region, including the Greek capital city of Athens, and is categorised as a transition region in accordance with EU Cohesion Policy.
The project will improve the coverage and quality of integrated water services, and increase resilience towards droughts. In doing so, it will also ensure continuous compliance with key European regulations in the water sector.
The project will contribute to the Bank's policy objectives of Sustainable Energy and Natural Resources as well as Climate Action, Environmental Sustainability and Cohesion.
The project is expected to have significant environmental and public health benefits, as it will improve the quality of recipient waters and will reduce greenhouse gas emissions from wastewater infrastructure. These benefits are not reflected in water tariffs and would not be realised to the same extent without public intervention. These positive impacts are all public goods that cannot be supplied by the market.
The Bank will fund EYDAP with a substantial loan under favourable terms, crucial amid regulatory uncertainty and pressing infrastructure needs. Its involvement enhances EYDAP's credibility, marking the company's first use of leverage.
Additionally, the Bank has supported the project's preparation through advisory services, making its overall contribution highly valuable.
Objectives
The aim is to support investments in water and wastewater infrastructure in EYDAP's service area, covering the majority of the Attica region, including Athens, which is categorised as a transition region in accordance with EU Cohesion Policy. This will improve the coverage and quality of integrated water and wastewater services and increase resilience towards droughts. In doing so, it will also ensure continuous alignment with the requirements of key European regulations in the water sector. The project is expected to have significant environmental and public health benefits, as it will improve the quality of recipient waters and will reduce greenhouse gas emissions from wastewater infrastructure.
Sector(s)
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 514 million
Environmental aspects
The project will contribute to the continuous alignment with the requirements of the applicable EU Directives in the water sector, notably the Drinking Water Directive (2020/2184/EU), the applicable Urban Wastewater Treatment Directive and the Water Framework Directive (2000/60/EC). Where and if applicable, the requirements of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, SEA Directive 2001/42/EC, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be respected as applicable.
Procurement
The promoter shall ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable as well as Directive 92/13/EEC and 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. Information on awarded main suppliers/contractors for the implementation of the envisaged operation is not yet available.
Status
Signed - 25/07/2025