‘The EU has targeted and coordinated infrastructure cross-border planning programmes. The largest of such programmes is the TEN-T or Trans-European Network for Transport programme. This consists of nine core corridors. A great deal of planning is going into the development of these nine core corridors, to ensure the best possible return on investment. For far too long, the EU’s transport infrastructure was a patchwork rather than a network. Under this programme, 70% of all EU transport financing in the current 7 year cycle will go to rail,’ Henrik Hololei, DG MOVE Director-General said.
To increase the investment in infrastructure projects, the European Commission launched in 2014 an ambitious investment plan. ‘The new fund means that projects which might otherwise be too risky for private investors alone can go ahead, creating jobs in the process and meeting the demand for increased capacity in the transport network. The key idea is to leverage private money for strategic infrastructure projects, which are needed for jobs and growth in the European Union. The fund has a total value of EUR 315 billion,’ Hololei said.
Photo: ÖBB
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