EU invests EUR 2.2 billion into 140 key transport project to accelerate economic recovery
European Union (EU) agreed on 21 July for a comprehensive package of EUR 1.83 trillion, which combines the Multilateral Financial Framework (MFF) and Next Generation EU (NGEU). The proposed package will help the EU to rebuild after the COVID-19 pandemic and will support investment in the green and digital transitions.
The graph shows the impact of COVID-19 and the recovery path.
European Union (EU) agreed on 21 July for a comprehensive package of EUR 1.83 trillion, which combines the Multilateral Financial Framework (MFF) and Next Generation EU (NGEU). The proposed package will help the EU to rebuild after the COVID-19 pandemic and will support investment in the green and digital transitions.
As part of the recovery fund, EU will be also investing EUR 2.2 billion into 140 key transport projects in all members states. These projects will help build missing transport links across the continent, support sustainable transport and create jobs. The projects will receive funding through the Connecting Europe Facility (CEF), the EU’s grant scheme supporting transport infrastructure. The projects will focus on:
- Reinforcing railways, including cross-border links and connections to ports and airports
- Inland waterway transport, with more capacity and better multimodal connections to the road and rail networks
- Maritime sector focusing on short-sea-shipping projects
Key Projects:
Rail infrastructure projects – trans-European transport (TEN-T) core network with a total of EUR 1.6 billion (55 projects). This includes the Rail Baltica project, which integrates the Baltic States in the European rail network, as well as the cross-border section of the railway line between Dresden (Germany) and Prague (Czechia)
Greener fuels for transport (19 projects) with an investment of EUR 142 million. A number of projects involve converting vessels so they may run on Liquefied Natural Gas (LNG), as well as installing corresponding infrastructure in ports
Alternative fuels infrastructure, through the installation of 17,275 charging points on the road network and the deployment of 355 new buses
Interoperable railway system (9 projects) with an investment of EUR 49.8 million in the EU and the seamless operation of trains across the continent through the European Rail Traffic Management System (ERTMS), Upgrading locomotives and railway track to the unified European train control system will boost safety, decrease travel times and optimise track usage