European transport investment plan approved

EU national representatives have endorsed a proposal to fund hundreds of transport projects worth US$14 billion, reports the European Commission. The Connecting Europe Facility (CEF) coordination committee, which is made up of representatives of the 28 Member States, approved the funding for 276 projects which the Commission proposed on 29 June. EU Commissioner for Transport Violeta Bulc said "I am very pleased that following constructive discussions in the CEF coordination committee, the Member Stat
July 30, 2015 Read time: 2 mins
EU national representatives have endorsed a proposal to fund hundreds of transport projects worth US$14 billion, reports the 1690 European Commission.

The Connecting Europe Facility (CEF) coordination committee, which is made up of representatives of the 28 Member States, approved the funding for 276 projects which the Commission proposed on 29 June.

EU Commissioner for Transport Violeta Bulc said "I am very pleased that following constructive discussions in the CEF coordination committee, the Member States endorsed our proposal for the largest investment plan ever made by the EU in the transport area. The 276 projects we selected will contribute to the creation of jobs and will boost growth and competitiveness in Europe. I am also delighted to see that many will implement horizontal priorities such as the digitalisation of transport or the market uptake of alternative fuels."

By the end of July 2015, the Commission will formally adopt the funding decision. Individual project grant agreements will be prepared by INEA and signed with the project beneficiaries thereafter. Funds will start being disbursed as of the last quarter of 2015.
UTC

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