EUR 11.9 billion to improve infrastructure within EU
The European Commission has invited member states to propose projects to use EUR 11.9 billion of EU funding to improve European transport connections. This is the largest ever single amount of EU funding earmarked for transport infrastructure. Member states have until 26 February 2015 to submit their bids.
The funding is supposed to remove bottlenecks, revolutionise east-west connections and streamline cross border transport operations for businesses and citizens throughout the EU.
EU financing for transport has tripled to EU 26 billion for the period 2014-2020 (compared to EUR 8 billion for 2007-2013), under the new connecting Europe facility (CEF). This is the first tranche of the new funding for transport to be made available.
Taken together these innovations - the tripling of transport financing combined with the decision to tightly focus the funding along nine major EU transport corridors - amounts to the most radical overhaul of EU transport infrastructure policy since its inception in the 1980s.
The new core network, to be established by 2030, will connect 94 main European ports with rail and road links; 38 key airports with rail connections into major cities; 15,000 km of railway line upgraded to high speed and 35 cross border projects to reduce bottlenecks.
The funding will be attributed to the most competitive projects and focused on nine major transport corridors in Europe. The projects will receive EU funds but must be co-financed by member states. The results of the bidding and the project allocations will be announced in summer 2015.
