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European Commission invests €421M in transport infrastructure

On March 26, the European Commission proposed to invest €421 million in 69 projects aimed at promoting digitalisation, making roads safer, and fostering multimodal connections in line with the ‘Europe on the Move’ initiatives.

These 69 projects will be supported via the Connecting Europe Facility (CEF), the EU's financial mechanism supporting infrastructure development and upgrade. The EU's financial contribution is made in the form of grants, with different co-financing rates depending on the project type.

Under the CEF programme, €23.6 billion is available for grants from the EU’s 2014-2020 budget to co-fund projects of the Trans-European Transport Network in the EU Member States. Since the launch of CEF in 2014, five calls for project proposals have been launched annually. In total, CEF has so far supported 688 projects with a total of €22.9 billion.

The Commission will adopt a formal decision, after which INEA will prepare and sign grant agreements with the beneficiaries of the individual projects by June 2019.
Access more information from the dedicated EC website here.

Source: European Commission DG MOVE © European Union, 1995-2019