EU invests €1 billion in transport network development

The European Commission proposing to invest €1 billion in 39 transport projects, with a view to upgrade Europe’s rail network, further develop alternative fuels infrastructure and pave the way for zero emission water transport. In doing so, the Commission is firmly delivering on its clean mobility package from 8 November. Selected projects include the upgrade of the Divača-Koper rail line in Slovenia, the construction of 340 charging stations for electric cars in 13 EU countries and the enhancement of the Albert Canal, Belgium’s main inland waterway.

This investment is made under the Connecting Europe Facility, the EU’s financial mechanism supporting infrastructure networks, and combines – for the first time – EU grants with other European, national or private funds (“blending”).

Commissioner for Transport Violeta Bulc said, “Our investment plan for Europe is working: today we are proposing to invest €1 billion in 39 transport projects of clear EU added value for citizens and businesses. This investment will allow us to further accelerate our transition to low-emission mobility across Europe, and firmly delivers on the EU’s jobs agenda for jobs and growth. We expect it to unlock a total of €4.5 billion of public and private co-financing.” 

Investments are expected to generate € 4.5 billion of cumulated GDP, which corresponds to around 13 million jobs per year, and a reduction of about 7 million tons of CO2 emissions between 2015 and 2030.

See here for the full list.

More information is available here.

Source: The European Commission