1.9 Billion Available for European Transport Projects
On 13 October, 2016, the European Commission started the third round of calls for proposals under the Connecting Europe Facility, an EU transport funding program, thereby stimulating investment. The new calls would make 1.9 billion available for European transport projects.
Of this 1.9 billion euro’s, 1.1 billion would be used for 15 Member States which are eligible for the cohesion fund to guarantee sustainable development projects. An additional 40 million will be provided to enhance the infrastructure between the EU and its neighbors.
According to Commissioner Violeta Bulc, the new call focuses on intelligent transport systems in the EU and infrastructural development in the 15 cohesion states. The EU aims to stimulate innovative transport to improve safety and environmental performance, increase efficiency and build cross-border connections. Small cross-border projects are another priority, which will receive 110 million, thereby increasing accessibility.
These calls are good news for European shippers as the fund would improve the quality of future transport, thereby enhancing efficiency and reducing transport time. The Commission stated on its website that the outcome of the calls will be published by summer 2017.