Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Greece

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 2, 2025

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Lion Rental S.A. (Motodynamics Group SA)

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Energy
Industry and Trade
Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 23.26 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 20
Converted using 2025-12-02 exchange rate.

Loan Amount (USD)

$ 23.26 million

Project Cost (USD)

$ 29.07 million

Bank Documents

PSD Translation (Greek)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 16, 2026

Disclosed by Bank Jul 6, 2026

Contribute Information
Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EBRD, the project consists of up to EUR 7,500,000 loan provided via the EBRD's own resources and an up to EUR 12,500,000 loan financed from the Greek RRF Corporate Loan Facility and channelled via the Greek Ministry of Finance to the EBRD/EU Special Fund for a total financing of EUR 20,000,000 to Lion Rental S.A., a public limited company incorporated in Greece. The project is the sixth sub-operation under the EBRD's Greek Recovery and Resilience Facility (RRF) Co-Financing Framework, implemented as part of the "Greece 2.0" National Recovery and Resilience Plan, funded by the European Union's (EU) NextGenerationEU programme.

The loans will finance the purchase of new Electric Vehicles (EVs) to replace Internal Combustion Engine (ICE) vehicles in Lion Rental's leasing and rental portfolio. The total Project cost of EUR 25 million will be funded from the EUR 20 million proposed debt-financing package and EUR 5 million from Lion Rental's own funds. The Project addresses the strategic directions of the EBRD Country Strategy for Greece, which aims to"support the decarbonisation across sectors through direct engagement with private clients", promoting the decarbonisation of the Greek economy.

EBRD FINANCE SUMMARY

EUR 7,500,000.00

TOTAL PROJECT COST

EUR 25,000,000.00

ADDITIONALITY

The EBRD enables the Borrower's access to competitive RRF financing. Lion Rental benefits from this financing tool to enable an innovative technology (EVs) to become more widespread. Such funds will help Lion Rental to accelerate the rollout of greener vehicles in a market with low electric vehicles penetration, also supporting the realisation of the country's sustainable transportation goals.

ENVIRONMENTAL AND SOCIAL SUMMARY

Categorised B (2024 ESP). The project is considered low risk due to use of funds being entirely for EV fleet purchases. The project underwent questionnaire-based Environmental and Social due diligence (ESDD) as well as review of Company policies and management practices. The Company's hiring, professional development and HR policy indicated transparent hiring practices for internal and external candidates, adequate training programmes for new and long-term employees, and well-developed HR policies with regard to employee grievance systems. The Company's policy on prevention and combatting of gender-based violence, harassment and exploitation is in line with EU and Greek legislation and applies to all employees and contractors. Though considered minimal due to the sector and type of capex, OHS policies at the Company level are robust and include continual risk identification and exposure assessment informed by Facility Managers, the Safety Engineer, the Occupational Doctor (OD), and the Health and Safety at Work Consultant. Waste and hazardous materials management is conducted in accordance with relevant Greek and EU laws. The Company has a formalised stakeholder engagement process, external grievance mechanism and discloses relevant information publicly. Motodynamics is a new client for the Bank. No ESAP is required.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Private Actors Description

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the EBRD, Lion Rental S.A. is one of the leading car rental and leasing companies in Greece and the franchisee of SIXT in the country, a subsidiary of Motodynamics S.A. (Greece) - the holding company of Motodynamics Group.

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Motodynamics Group SA	Client	Transport

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Client - Lion Rental S.A. (Motodynamics Group SA):

Magda Rizou
Email: m.rizou@motodynamics.gr
Website: https://motodynamics.gr/
Address: 10 Germanikis Scholis Athinon str. 151 23, Maroussi, Greece

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html