EU to fund large-scale transport infrastructure

The European Commission is taking further action to stimulate investment in Europe by launching the second call for proposals of the Connecting Europe Facility (CEF) with more than US$8.2 billion to finance key transport projects. US$7 billion is earmarked for projects in member states eligible for the EU Cohesion Fund, in order to better integrate these countries into the internal market. Along with the Investment Plan presented by the Commission in November 2014, and in particular the new European Fund
November 6, 2015 Read time: 2 mins
The European Commission is taking further action to stimulate investment in Europe by launching the second call for proposals of the Connecting Europe Facility (CEF) with more than US$8.2 billion to finance key transport projects. US$7 billion is earmarked for projects in member states eligible for the EU Cohesion Fund, in order to better integrate these countries into the internal market.

Along with the Investment Plan presented by the Commission in November 2014, and in particular the new European Fund for Strategic Investments (EFSI), the CEF aims at bridging the investment gap in Europe to kick-start growth and job creations, a priority of President Jean-Claude Juncker.

Vice-President Jyrki Katainen, responsible for jobs, growth, investment and competitiveness, said: "An optimal use of the Connecting Europe Facility instruments is an integral part of the Commission's Investment Plan. Transport infrastructure is in dire need of investment and today's announcement of more than US$8.2 billion to finance key transport projects is excellent news."   

EU Commissioner for transport Violeta Bulc added, "Efficient, intelligent and sustainable transportation is essential to Europe's competitiveness. With this new CEF call, we are not only looking for waterway or rail projects; we are aiming at creating jobs and boosting growth."
UTC

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