EU investment fund ‘important for transport’

The new EU Commissioner for Transport, Violeta Bulc, said that the US$392 billion investment fund unveiled by President Juncker last week will have big significance for the transport sector. In a speech today to the Committee on Transport and Tourism at the European Parliament, Ms Bulc said that the new European Fund for Strategic Investment set up with the European Investment Bank (EIB) offers new opportunities to finance transport needs, particularly in urban mobility. “Investment needs in urban mob
December 19, 2014 Read time: 2 mins
The new EU Commissioner for Transport, Violeta Bulc, said that the US$392 billion investment fund unveiled by President Juncker last week will have big significance for the transport sector.

In a speech today to the Committee on Transport and Tourism at the European Parliament, Ms Bulc said that the new European Fund for Strategic Investment set up with the 4270 European Investment Bank (EIB) offers new opportunities to finance transport needs, particularly in urban mobility.

“Investment needs in urban mobility are massive since they are generating most of the traffic and most of the emissions,” she told the Committee. “The infrastructure and the fleets for new collective transport systems, to make our cities smarter, need to be put in place.”

Ms Bulc said that more investment was needed for cleaner modes of transport, particularly at borders, to have a unified and more efficient European transport system and to bring it into the 21st century.

She said: “Intelligent Transport Systems should be deployed at European level to make the best use of the existing and future infrastructure and to develop a transport system which is at the service of the users— citizens and companies.”

The new fund, Ms Bulc emphasised, will complement and not substitute financial instruments already in place, such as the Connecting Europe Facility, the Cohesion and EIB loans. It will also target more ‘risky’ transport projects not currently funded by the EIB.
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