Background Lake Stymfalia, in Southern Greece, is a mountainous Mediterranean-type inland wetland with freshwater fens. It provides an important refuge for migratory birds and for breeding, passage and wintering waterbirds. The area of the small shallow lake fluctuates seasonally. During the droughts of the 1990s, the lake dried out entirely and was subsequently cultivated by the people of the nearby villages. The water of the lake is drained by the natural karst and by intensive water drawing for the surrounding cultivated areas. Artificial drainage is a commonly used method to temporarily reclaim fertile land for cultivation. Groundwater and surface abstraction from the springs within the wetland has reduced the area and the depth of the lake considerably; the reedbeds have expanded to a great degree. The lake is an important habitat for a significant number of species of concern, including eagles and other raptors, egrets, herons, bitterns, ibises, patridges and terns, as well as providing a stopping point for migratory birds. Within Lake Stymfalia and its surroundings are also found the endemic fish taxon Pseudophoxinus stymphalicus, endemic Greek plant taxa and a diverse vertebrate fauna. Objectives The main objective is the establishment of a sustainable management and financing system for an important but degraded wetland ecosystem (the Natura 2000 network site, “Limni Stymfalia”, which is also a site with cultural importance, well-known from the myth of Hercules) in order to improve the conservation status of target species and wetland habitats and to ensure a viable scheme that will, in the long term, finance all necessary management activities. The project’s specific objectives include: Restoration of important wetland habitats based on the ecological requirements of target species; The creation of conditions for the financial sustainability of the wetland’s management and conservation (exploit for profit the surplus biomass from reedbed management and divert a profit portion to the site management); Raising stakeholder awareness; and Engaging the local community in the sustainable management of Lake Stymphalia. Expected results: The project expects to achieve the following results: Α management plan (general protection guidelines for the site); A series of special action plans and operational plans (directions and objectives for the conservation of target species and their habitats); A feasibility study (for the continuation of wetland/reedbed management after the end of the project); Establishment and operation of a local management unit for the surveillance of on-site actions; Implementation of reedbed management; The management and/or restoration of important habitats and target species; Standardisation of know-how obtained from the conversion of reeds into a product to partially or totally cover the financial needs for the long-term management of Stymfalia and other wetland sites (procedure and guideline development); Development of a model for businesses that wish to invest in producing energy from wetland biomass and return a percentage of the profits to sustainably finance the management needs of the site; Establishment of a farmers’ network to introduce concepts such as payments for ecosystem services, organic farming etc; and Public awareness and dissemination actions.