The Commission has formally adopted the decisions on €13.1 billion investment plan for the transport sector under the Connecting Europe Facility. Funds will start being disbursed as of the last quarter of 2015 once individual project grant agreements have been signed with the project beneficiaries. This investment will unlock additional public and private co-financing for a combined amount of €28.8 billion. Along with the recently established European Fund for Strategic Investments (EFSI) under the €315 billion Investment Plan, the selected CEF projects will deliver on one of the Commission’s top priorities: bridging the investment gap in Europe to create favourable conditions for the creation of jobs and growth.
EU Commissioner for Transport Violeta Bulc previously commented on the Commission decisions: “The projects we selected will serve citizens and businesses alike, by upgrading infrastructure and removing existing bottlenecks. They will also promote sustainable and innovative mobility solutions. This unprecedented investment represents a major contribution to the Commission’s agenda of growth and job creations. Implementing the trans-European transport network could create up to 10 million jobs and increase Europe’s GDP by 1.8% by 2030”.
Original source: European Commission