The European Bank for Reconstruction and Development (EBRD) has signed a €20 million loan to Lion Rental S.A., a leading car rental and leasing company in Greece, to finance the large-scale deployment of electric vehicles across the country, according to a press release. The financing supports the electrification of the company’s fleet and Greece’s transition to cleaner transport. It marks the last EBRD project to be signed under the Recovery and Resilience Facility (RRF) in Greece. The initiative is expected to modernize the country’s car rental market. It also aims to accelerate electric mobility and cut emissions.
The total investment amounts to €25 million. It is financed through a combination of EBRD resources, RRF loans channelled through the Greek authorities as part of the “Greece 2.0” National Recovery and Resilience Plan, funded by the European Union’s NextGenerationEU programme, and a contribution by the borrower. Lion Rental is a wholly owned subsidiary of Motodynamics S.A., the franchisee of SIXT in Greece, which is listed on the Athens Stock Exchange. The project reflects continued cooperation between the EBRD and Greek authorities on green transition efforts. It also aligns with wider EU-supported recovery objectives.
The investment will finance the replacement of internal combustion engine vehicles with electric vehicles in Lion Rental’s rental and leasing fleet. Around 650 electric vehicles are to be added under the project. The initiative is expected to reduce carbon dioxide emissions by up to 652 tonnes per year. It will help modernize Greece’s car rental market. The financing will also support the country’s shift toward cleaner transport solutions.
By supporting the electrification of the vehicle fleet, the EBRD financing is contributing to better air quality and reduced greenhouse gas emissions. It also encourages greater uptake of electric vehicles by businesses and consumers. The project aligns with wider environmental objectives set by the Greek authorities and the EU. It reinforces the role of private sector investment in advancing green mobility. The rollout is expected to broaden access to electric vehicles across the Greek market.
The EBRD’s mandate in Greece ended in 2025, although the Bank is still fulfilling projects approved in 2025 and managing a portfolio of projects across the country. As one of Greece’s key institutional investors, the EBRD has invested more than €9 billion to date in all sectors of the Greek economy. The Lion Rental transaction concludes the Bank’s activity under the RRF in the country. It underscores the EBRD’s continued engagement with Greek partners. The project delivers on shared priorities for cleaner transport and modernization.