TRANSPORT: EU to offer â‚¬11.9 bln to improve connections

The European Commission has invited member states to propose projects to use €11.9 bln 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 26th February 2015 to submit their bids.

EU financing for transport has tripled to €26 bln for the period 2014-2020 (compared to €8 bln 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 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 allocation to projects will be announced in summer 2015.