Rhodes wildfires
The wildfires on Rhodes in July 2023 was the largest ever recorded on the island. Around 15,000 hectares of forest land burned down.
Several infrastructures were destroyed, and the vast area of burned landscape continues to negatively impact the mental health of the residents. There also was an economic impact, as agricultural and livestock activities in the region were affected.
Immediate and effective measures were necessary to prevent further environmental damage. As a 1st step, flood and erosion control projects were considered necessary.
Actively supporting the affected areas
We supported the construction of 212,371 hectares of flood and erosion protection projects east of the Asclepius community and the coastal settlement of Kiotari, in the municipal unit of South Rhodes.
With the flood and erosion protection projects we:
- Addressed soil erosion immediately and protected the wider area from flooding.
- Fortified the drainage basins against severe and destructive flooding events by retaining sediment.
- Contributed to the natural regeneration of the area by preserving the seeds of local forest species and promoting their growth.
The Greek Ministry of Environment and Energy commissioned Eurobank for the restoration projects, following a study carried out at the initiative of the Rhodes Hoteliers Association for a broader set of flood control projects on the island. In addition, we covered part of the expense for preparing the study.
Supporting the local community
In July 2023 we undertook targeted actions to relieve and support those affected on Rhodes and to restore the natural environment. We contributed to the rapid repair of damages and supported the island’s tourism.
Our goal for 2024-2026 is to disburse over €200 million in loans on Rhodes, to finance businesses across all sectors on the island.
