The project refers to a new nature-based solution (NBS) project in agriculture, a water retention project, the already established ‘Karla’ reservoir in Central Greece, a unique example at European scale, of a lake ecosystem which was dried and now is restored. The lake is located in a water scarce area and its water management is expected to maximize the efficiency of water provision in agriculture and biodiversity enhancement. The reconstructed Lake Karla serves as a multi-purpose project to combat water scarcity, increasing crop yield production and respective agricultural income in the surrounding area, securing the full coverage of the water supply needs of the closest city of Volos, improving the status of groundwater resources, developing a natural shelter for biodiversity and emerging recreation and touristic opportunities. The main success factors are the positive attitude of decision makers, the full support from stakeholders (mainly farmers) and the positive public perception. The construction and operation costs can be recovered to a high degree through the provision of the abovementioned services and an effective governance plan can ensure the sustainability of the project.