Connecting Europe Facility: committees approve infrastructure funding mechanism
Transport and Industry MEPs approved an agreement on the “Connecting Europe Facility” (CEF), the EU’s new funding mechanism for infrastructure projects of common interest for trans-European transport, energy and telecoms networks, at a joint committee meeting on Monday. The CEF should have a budget of about € 29.3 billion for 2014-2020 (at 2011 prices). The agreement is still subject to approval by the full house of the Parliament.
The CEF will provide funding for key transport infrastructure projects to improve cross-border connections, remove bottlenecks, bridge gaps and improve interoperability. Support should focus on projects with strong EU added value, which develop the core network, as well as those of common interest in the field of traffic management systems.
Of the, €23.17 billion earmarked for transport projects, €10 billion would be transferred from the Cohesion Fund to be used exclusively in member states eligible for Cohesion Fund money.
Source: European Parliament
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In: Growth & Competitiveness