The 1690 European Commission has released US$15.3 billion of EU funding to improve European transport connections and invited Member States to propose suitable projects to use the funding. Proposals must be submitted by 26 February 2015.
EU financing for transport has tripled to US$33.6 billion for the period 2014-2020, compared to US$10.3 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.
The funding will be concentrated along nine major transport corridors which, taken together, will form a core transport network and act as the economic life-blood of the Single Market. The funding is intended to remove bottlenecks, revolutionise east-west connections and streamline cross border transport operations for businesses and citizens throughout the EU.
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.
Commission Vice President Siim Kallas, responsible for transport, commented: "Transport is fundamental to an efficient European economy, so investing in transport connections to fuel the economic recovery is more important than ever. Areas of Europe without good transport connections are not going to grow or prosper. Member States need to seize this opportunity to bid for funding to be better connected, more competitive and provide smoother and quicker journeys for citizens and businesses."
The funding will be awarded 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, the allocation to projects will be announced in summer 2015.
EU financing for transport has tripled to US$33.6 billion for the period 2014-2020, compared to US$10.3 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.
The funding will be concentrated along nine major transport corridors which, taken together, will form a core transport network and act as the economic life-blood of the Single Market. The funding is intended to remove bottlenecks, revolutionise east-west connections and streamline cross border transport operations for businesses and citizens throughout the EU.
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.
Commission Vice President Siim Kallas, responsible for transport, commented: "Transport is fundamental to an efficient European economy, so investing in transport connections to fuel the economic recovery is more important than ever. Areas of Europe without good transport connections are not going to grow or prosper. Member States need to seize this opportunity to bid for funding to be better connected, more competitive and provide smoother and quicker journeys for citizens and businesses."
The funding will be awarded 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, the allocation to projects will be announced in summer 2015.
