EIB and EYDAP Seal €250m Deal to Upgrade Athens’ Water and Wastewater Systems

The European Investment Bank (EIB) has signed a landmark €250 million financing framework with the Athens Water Supply and Sewerage Company (EYDAP), paving the way for a €514 million investment programme to modernise and expand water supply and wastewater services for more than 4 million people across the Attica region.

This deal marks the first time EYDAP has secured long-term financing to implement its strategic investment plan, a move that will fundamentally reshape the water infrastructure of one of Europe’s most densely populated metropolitan areas.

Modernising Athens’ Lifeline

Scheduled to run between 2025 and 2030, the investments will target a comprehensive upgrade of Athens’ water and wastewater systems. These projects are designed not only to enhance the quality and safety of services but also to tackle long-term challenges such as climate change, drought resilience, and the environmental footprint of urban water networks.

Key elements of the programme include:

• Replacement and renewal of aging water supply and sewerage networks.

• Upgrades to drinking water and wastewater treatment plants.

• Rollout of smart meters to improve efficiency and reduce water losses.

• Deployment of digital monitoring and automated network systems.

• Energy efficiency measures to cut costs and reduce carbon emissions.

The combined effect of these projects will mean fewer leaks, improved service reliability, cleaner water, and a stronger shield against climate-related pressures such as droughts and heatwaves.

EIB and Government Backing

EIB Vice President Yannis Tsakiris described the investment as crucial for public health and sustainability. “Access to clean and safe water is a fundamental right and a cornerstone for public health, social cohesion and economic resilience,” he said, noting that smart technologies and efficiency measures would reduce waste and emissions while strengthening Athens’ climate resilience.

Greek Minister of Environment and Energy, Stavros Papastavrou, highlighted the strategic importance of the deal. “This confirms our determination to address water scarcity – a chronic problem for our country – while improving services for four million citizens in Attica. Because water is a public good, invaluable and irreplaceable – the very source of life.”

EYDAP’s Vision for the Future

EYDAP’s leadership emphasised that the agreement underscores trust in its ability to deliver on major infrastructure.

• Board Chairman Giorgos Stergiou noted that the partnership with the EIB “accelerates projects that benefit millions of citizens by modernising old network sections, resulting in fewer leaks and interruptions.”

• CEO Haris Sachinis called the programme “vital” for transforming EYDAP into a modern, climate-ready water company that continues to provide reliable, efficient, and sustainable services.

Part of a Larger National and European Strategy

The agreement comes as Greece introduces significant reforms to modernise water regulation through bodies such as the independent regulator for water and wastewater services (RAAEY).

The EIB loan also aligns with broader policy frameworks, including:

• The EU’s Water Resilience Initiative and European Green Deal.

• Greece’s national strategy for sustainable and affordable water management.

• EU Cohesion Policy goals, as Attica is considered a “transition region” needing stronger infrastructure for social and territorial cohesion.

In addition to financing, the EIB Advisory, through the InvestEU Advisory Hub, assisted EYDAP in shaping its investment strategy, providing technical and climate resilience expertise. This collaboration is expected to continue, expanding to future projects with even greater impact.

Financing the Transformation

The EIB loan will cover up to 50% of the current €514 million programme, with the remainder financed by EYDAP’s own resources and potential commercial borrowing. Importantly, this €514 million initiative is part of EYDAP’s broader €2.1 billion infrastructure plan, signalling long-term commitment to ensuring Athens’ water security for decades to come.

A Turning Point for Athens

The partnership between the EIB and EYDAP represents more than just an infrastructure upgrade—it is a decisive step towards ensuring that Athens’ water system meets the demands of a modern European capital. For residents of the Attica region, it promises cleaner water, fewer disruptions, better drought management, and stronger environmental protection.

As Athens faces the twin challenges of urban growth and climate change, this investment lays the foundation for a sustainable and resilient water future—one where every drop counts.