| Project Detail |
The loan will finance the construction of a new artificial reservoir in the Platy River in Crete to secure and improve irrigated agriculture and flood protection in surrounding areas. In particular, the project consists of: 1. Construction of the Platy artificial reservoir, with 21 million m3 capacity 2. Transfer through 18.6 km of water mains from the reservoir to current overexploited aquifer in the Messara agricultural plain 3. New irrigation scheme of up to 4 350 ha in the surroundings of the Platy reservoir 4. Other (engineering, supervision, land acquisition, contingencies).
Objectives
The aim is to protect Crete from droughts and floods in a context of climate change, as well as the groundwater resources. The project is included in the approved 1st Revision of the River Basin Management Plan for Crete, the Flood Risk Management Plan and the Regional Development Strategy. The related investments help to implement measures meeting the requirements of the Water Framework Directive 2000/60/EC and the Floods Directive 2007/60/EC. Due to the project location, the project falls under the EU Cohesion Policy.
Sector(s)
Water, sewerage - Agriculture, forestry and fishing
Water, sewerage - Water supply; sewerage, waste management and remediation activities
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
EUR 160 million |
