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

Related Content

  • January 20, 2012
    Infrastructure spending is an investment in economic recovery
    Transportation funding is caught in the crossfire as the President calls for infrastructure investment and a reinvigorated Republican majority in the House pushes back on federal spending. Andrew Bardin Williams reports. Every few months some politician or pundit declares that the country is on the verge of making the most important political decision in a generation. The 2006 mid-term election; the 2008 Presidential election; the passing of the stimulus bill; healthcare reform; the mania surrounding Tea Pa
    Read More
  • April 23, 2015
    EU ‘should support e-commerce innovation and strategic transport investments’
    Unlocking e-commerce potential is central to the development of the new EU digital single market and digital economy stated the Alliance for European Logistics (AEL) during yesterday’s 7th European Logistics Summit. AEL believes the time has come to update the existing regulatory framework to fully exploit the potential of e-commerce and to stimulate investments and innovation across Europe. Transport infrastructure investments were also discussed as AEL urged European policy-makers to consider infras
    Read More
  • March 23, 2012
    EU approves US$660 billion to transform Europe's transport network
    The EU's Council of transport ministers met in Brussels yesterday and approved a proposal for a new regulation of Trans European Transport – Network (TEN-T) guidelines, in a package for a Connecting Europe Facility. The proposal approved yesterday, and which will cost US$660 billion by 2020 if fully implemented, is aimed at establishing and developing a complete TEN-T, consisting of infrastructure for roads, railways, inland waterways, shipping ports and airports. It also defined a comprehensive network and
    Read More
  • April 21, 2015
    EU regions urge adequate funding for sustainable transport
    The European Committee of the Regions (CoR) is concerned by the lack of investment by the EU in the transport sector. According to regions and cities, very little progress has been made also in integrating the European transport market in the last four years. These concerns were debated by CoR members at the 16 April plenary session, which saw the adoption of the opinion on the implementation of the 2011 European Commission White Paper on Transport, aiming to create a single European transport area. The
    Read More

Highlighted Content