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Reference: 20250227
Release date: 7 July 2025

Promoter – Financial Intermediary

REGION OF CRETE,REGION OF NORTH AEGEAN,REGION OF PELOPONNESE,REGION OF SOUTH AEGEAN,REGION OF WESTERN MACEDONIA

Location

Description

The project is structured as a multisector Framework Loan in support of Just Transition in the regions of Western Macedonia, Crete, North Aegean, South Aegean and Peloponnese and is expected to fall under the Public Sector Loan Facility (PSLF, Pillar III of the Just Transition Mechanism). The project comprises the schemes under the investment programmes of the aforementioned regions aiming to support the implementation of their Territorial Just Transition Plans.

Objectives

The project aims to address some of the social, economic, environmental and climate transition challenges (as described in the Just Transition Territorial Plans of the relevant regions and their Regional Development Programmes 2021-2025). The project includes multi-sector investment schemes in the sectors of transport, education, energy efficiency, digitalisation, culture and social care.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 168 million

Total cost (Approximate amount)

EUR 234 million

Environmental aspects

The project comprises a multi-scheme operation classified as a Framework Loan and some of the schemes may eventually fall under Annex I or Annex II of the EIA Directive 2011/92/EU as amended by Directive 2014/52/EU. Should any such scheme have a negative impact on an area forming part of the Natura 2000 network (falling under the Habitats Directive 92/43/EEC or Birds Directive 2009/147/EC), the Bank would require the Promoter to act according to the provisions of the aforementioned Directives as transposed into the national law. It is a requirement that all schemes must be implemented in compliance with the EU environmental legislation. Where and if applicable and based on a risk-based approach as defined in the EIBG E&S Policy, the requirements of the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC, will be checked during appraisal. Environmental and efficiency improvements in public buildings will be required to comply with the provisions of the EU Directive on Energy Performance of Buildings 2010/31/EU.

Procurement

The Bank will require the Promoters to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation: Directive 2014/23/EU/ 2014/24/EU as well as Directive 92/13/EEC or 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.

Status

Under appraisal - 23/04/2025

Milestone
Under appraisal

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).

Related tags

Greece Energy Water, sewerage Urban development Transport Services Education Health