In a significant relocate aimed at accelerating Europe’s urban green transition, the European Investment Bank (EIB) has entered into a comprehensive advisory agreement with six pioneering Greek municipalities—Athens, Thessaloniki, Kozani, Trikala, Ioannina, and Kalamata. This strategic partnership will empower these cities to advance toward their climate neutrality and smart city ambitions by facilitating expertly designed investment strategies and infrastructure development.
The agreement was signed under the InvestEU Advisory Hub, with implementation support from EIB Advisory and in close collaboration with the European Commission’s Climate Neutral and Smart Cities Mission. The initiative marks a deepening of the EIB’s commitment to empowering local governments to deliver sustainable, inclusive, and technologically advanced urban development.
A Vision for Greener, Smarter Cities
Under the new agreement, EIB Advisory will provide tailored technical assistance and project preparation services for up to 36 months. The support will focus on key areas such as:
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Sustainable urban mobility
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Energy efficiency and renewable energy projects
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Nature-based climate adaptation solutions
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Circular economy and waste management systems
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Smart city infrastructure, including data-driven public services and digital innovation
EIB Vice-President Ioannis (Yannis) Tsakiris, who formally signed the agreement alongside city mayors during a dedicated event in Athens, emphasized the importance of local action in the global climate fight. “Achieving climate neutrality starts at the local level,” he stated. “Cities are on the frontline of the green transition, but they often required advice to turn their ambitions into bankable investment plans. With this agreement, the EIB is stepping up to provide that support, supporting municipalities across Greece unlock sustainable urban development through tarreceiveed advisory support, technical expertise and long-term partnership.”
Patrick Child, the Mission Manager for the European Commission’s Climate Neutral and Smart Cities Mission and Deputy Director-General for Environment, also attconcludeed the ceremony and underscored the EU’s firm backing of such city-driven transformation agconcludeas.
Backed by EU Climate Policy and Green Deal Goals
This initiative is rooted in the broader strategic framework of the European Green Deal, the EU’s roadmap for a climate-neutral continent by 2050. The six participating Greek cities are part of the EU’s Mission for 100 Climate-Neutral and Smart Cities by 2030, a program launched to accelerate innovation-led sustainable development and to create demonstrator cities that can inspire replication across Europe and beyond.
The EIB’s support includes both financial and non-financial tools:
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A dedicated €2 billion lconcludeing envelope has been earmarked for Mission Labelled cities to implement green projects.
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Advisory services—like the one signed with Greece—will enable municipalities to turn ambitious investment plans into concrete, fundable projects that can attract both public and private sector funding.
This multi-dimensional support reflects the EIB’s evolving role as the EU’s Climate Bank, not only providing finance but also expert guidance to support shape the future of sustainable urban living.
Tailored Support for Local Needs
One of the defining features of the agreement is its responsiveness to the individual context of each municipality. The advisory support will be fully customized according to the maturity, readiness, and specific environmental or digital priorities of each city.
Whether Athens is advancing smart mobility solutions, or Trikala is expanding its digital governance initiatives, or Kalamata is pioneering nature-based coastal adaptation, the EIB team will work hand-in-hand with local authorities to develop coherent, integrated, and effective urban strategies.
A Model for Regional and European Collaboration
This partnership also contributes to the EIB Group’s broader engagement in Greece under the Green Transition and Just Transition frameworks. It sets an example of how European institutions, national governments, and city administrations can coordinate efforts to address pressing global challenges such as climate modify, urban resilience, and digital equity.
As the EIB continues to scale up its climate-related investments across Europe, such advisory collaborations will be crucial in ensuring that cities have both the vision and the capacity to deliver transformation on the ground.
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