Paint for Retaining Wall

What type of paint should I use for a block retaining wall. In wet weather the wall gets fairly wet so I would be worried about using standard exterior wall paint (Weathershield/Sandtex etc) because the dampness seeping out from the wall may lift the paint. The paint is for decorative purposes. Is there a more permeable exterior paint. Would a whitewash type finish work?
Thanks
Frank
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Frank wrote:

You could treat the wall with one of thoise wetaherseal things to stop teh damp seeping out and paint oiver, but I am dubius of the effect of having a sopping wet wall that may be exposed to frost..
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Frank wrote:

How about painting it with a bitumen-based (black) paint, then covering that with an exterior paint?
Just floating it as a suggestion to be shot down; I really don't know if it would work (especially the bit about overpainting the bitumen paint)
David
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