European Commission injects €6.7 billion in transport infrastructure to boost jobs and growth
This investment is expected to unlock additional public and private co-financing for a combined amount of €9.6 billion. The selected projects will notably contribute to the digitalisation and decarbonisation of transport, in line with the broader political agenda of this Commission. The Member States eligible for the Cohesion Fund received almost 85% of the funding, which will help bridge the infrastructure disparities across the EU.
Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "I am happy that the Commission is making yet another major contribution to investment in the transport sector which will lead to more jobs and generate economic growth in Europe. I would also like to use this opportunity to encourage all potential project promoters to explore investment possibilities under the Investment Plan for Europe, and in particular the newly launched European Investment Project Portal (EIPP ), which gives worldwide visibility to transport project."
EU Commissioner for Transport Violeta Bulc said, "The total investment of €9.6 billion could create up to 100,000 jobs in the European economy by 2030. The projects will make European infrastructure safer, more sustainable and more efficient for passengers and business alike. I am pleased to see that the Western Balkan Region will also receive some funding, bringing its transport infrastructure closer to the EU's."
Launched in November 2015 , the second CEF calls for proposals generated 406 eligible project proposals. With €12.49 billion of requested EU funding, the calls were widely oversubscribed. This allowed the Commission to select the projects with the highest European added value, while guaranteeing a balanced distribution geographically and between the transport modes. €5.6 billion has been earmarked for Member States eligible for the Cohesion Fund.
The EU's financial contribution is made in the form of grants, the co-financing rate of which is between 20% and 50% of the eligible costs of a given project, depending on its type. As regards projects submitted under the Cohesion call, the maximum co-funding rates can go up to 85% of the eligible costs.
The proposed funding decision must now be formally approved by the Connecting Europe Facility Coordination Committee, which will meet on 8 July 2016. Adoption of the decision by the Commission is expected for end July 2016. The individual grant agreements will then be prepared by the Innovation and Networks Executive Agency (INEA) and signed with the project beneficiaries in the second half of 2016.
More information, as well as the full list of proposed projects is available here: