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We protect the environment and work on restoring areas affected by natural disasters. With a strong focus on actions that promote corporate responsibility, we have undertaken flood and erosion control projects to restore the natural environment in the wider area of Asclepius on the island of Rhodes.

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

Funding the flood and erosion protection projects

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.

Supporting the relevant study

The Greek Ministry of Environment and Energy commissioned Eurobank for the restoration projects. This way, part of the expense for preparing a study was covered, which was carried out at the initiative of the Rhodes Hoteliers Association for a broader set of flood control projects on the island.

The study identified a total of 9 intervention zones for flood control projects across the island.

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, the reopening of businesses and the support of the island’s tourism.

Our goal for 2024-2026 is to disburse over €200 million in loans exclusively on Rhodes, to finance businesses across all sectors on the island.

   

See photos from the projects on Rhodes

See also