EIB and Growthfund Partner to Boost Climate Resilience of Greek Ports

The advisory engagement, led by EIB Advisory, is designed to help the port authorities proactively assess and mitigate physical climate risks.

In a landmark initiative to fortify Greece’s maritime infrastructure against the growing impacts of climate change, the European Investment Bank (EIB) has announced a new advisory partnership with Growthfund, Greece’s National Investment Fund. The collaboration will focus on conducting in-depth Climate Risk and Vulnerability Assessments (CRVAs) for three major Greek ports — Volos, Alexandroupoli, and Patras. These ports are vital nodes in the country’s economic, trade, and transportation networks, and their resilience to climate-related risks is increasingly becoming a national priority.

A Comprehensive Approach to Climate Adaptation

The advisory engagement, led by EIB Advisory, is designed to help the port authorities proactively assess and mitigate physical climate risks. These risks include rising sea levels, coastal flooding, and the intensification of extreme weather events — all of which pose serious threats to port operations, infrastructure, and future investment planning.

The EIB’s support will be structured around three core deliverables:

1. Baseline Assessment: The project begins with a comprehensive analysis of climate data and historical extreme weather events in the three selected ports. This establishes the foundation for understanding existing vulnerabilities and the changing climatic conditions over time.

2. Climate Risk and Vulnerability Assessment (CRVA): This phase focuses on identifying the most pressing climate risks specific to each port. Using advanced modeling tools and scenario analysis, the CRVAs will outline the potential impacts on port infrastructure, logistics, and operations. Importantly, this step will also yield tailored adaptation strategies to enhance climate resilience.

3. Financial Impact Assessment: The final phase will evaluate the economic implications of climate risks, quantifying potential effects on operational costs, revenue streams, and long-term investment needs. This ensures that proposed adaptation strategies are not only technically robust but also economically sustainable.

Leaders Emphasize the Urgency of Climate-Resilient Infrastructure

EIB Vice-President Ioannis Tsakiris underscored the significance of this initiative, noting, “Ports are critical for Greece’s economy and connectivity, but they face increasing risks due to climate change. By working with Growthfund, we aim to provide structured assessments and strategic solutions to protect vital port infrastructure and ensure its long-term viability.”

Panagiotis Stampoulidis, Deputy CEO of Growthfund, highlighted the strategic value of the collaboration, calling it the second major partnership between the two institutions. “Climate change is one of the greatest challenges of our time, and ports — as critical infrastructure for the Greek economy, society, and the country’s connectivity — are at the forefront of this challenge,” he said. “Our collaboration with the Advisory Services of the European Investment Bank is fully aligned with Growthfund’s strategic planning to strengthen key public infrastructure.”

Alignment with European and Global Climate Standards

This initiative reflects a strong alignment with the European Union’s climate policy framework and technical guidelines. The assessments will adhere to the European Commission’s Technical Guidance on Climate Proofing Infrastructure and will integrate the recommendations of PIANC (the World Association for Waterborne Transport Infrastructure) on climate adaptation for ports and waterways.

Furthermore, Growthfund aims to leverage its extensive international network and technical expertise to embed European best practices into the Greek infrastructure landscape. This not only enhances the resilience of the selected ports but also contributes to a broader shift towards a sustainable development model nationwide.

The EIB’s Expanding Role as the EU Climate Bank

This partnership further solidifies the EIB’s mission as the EU’s Climate Bank. Beyond financing, the EIB is increasingly focused on advisory roles that enable countries and organizations to identify and overcome investment barriers, especially in the face of climate challenges. The bank’s involvement in the Greek ports project is a prime example of how strategic guidance can complement capital support to unlock sustainable development pathways.

By focusing on actionable, financially feasible adaptation strategies, the EIB and Growthfund aim to ensure that Greece’s ports continue to serve as robust engines of economic growth while adapting to the evolving climate reality.

Outlook: A Model for Other Mediterranean Ports

As Greece takes this proactive step toward climate resilience, the initiative may serve as a replicable model for other Mediterranean and European ports facing similar challenges. With coastal infrastructure increasingly at risk across the continent, the collaboration between EIB and Growthfund offers a blueprint for climate-proofing that balances environmental responsibility with economic pragmatism.