Commission's record €13.1 billion investment plan for transport endorsed by Member States

Commission's record €13.1 billion investment plan for transport endorsed by Member States

Commission's record €13.1 billion investment plan for transport endorsed by Member States

The FINANCIAL -- On July 10 the Commission's record €13.1 billion investment plan for the transport sector is coming closer to reality, after EU Member States approved the list of projects to receive funding under the Connecting Europe Facility (CEF).

Meeting on July 10, the CEF coordination committee, composed of representatives of the 28 Member States, issued a positive opinion on the proposal put forward by the Commission on 29 June. Along with the €315 billion Investment Plan presented by the Commission in November 2014, the CEF 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, according to the European Commission.

EU Commissioner for Transport Violeta Bulc said "I am very pleased that following constructive discussions in the CEF coordination committee, the Member States endorsed our proposal for the largest investment plan ever made by the EU in the transport area. The 276 projects we selected will contribute to the creation of jobs and will boost growth and competitiveness in Europe. I am also delighted to see that many will implement horizontal priorities such as the digitalisation of transport or the market uptake of alternative fuels."

The 2014 CEF calls for proposals attracted over 700 projects totalling more than €36 billion of requested funding. With €13.1 billion available, the Commission prioritised projects with the highest European added value. During the selection process, they were evaluated against a number of pre-defined criteria: relevance, maturity, impact and quality.

In line with its commitment to transparency, today the Commission, along with the Innovation and Networks Executive Agency (INEA), published a brochure containing general information on the CEF as well as on the projects evaluated.