The European Commission made an official decision in the third round of applications to allocate 110.5 million euros to the Rail Baltica railway project. The funding agreements will be signed in November at the latest.
Of the 110.5 million euros meant for Rail Baltica, 98.4 million euros will go to Lithuania, approximately 7 million to Latvia and 5.2 million to Estonia. In the two previous funding rounds, the three Baltic states and their joint venture RB Rail AS have received CEF co-funding for the construction of the Rail Baltica railroad worth 765 million euros in total. CEF funding is expected to cover up to 85% of the project’s total costs, with the financial support amounting to roughly 633 million euros.
The Rail Baltica project seeks to establish a direct railway connection between the Baltic states and the European railway network enabling speeds of up to 240 kilometers per hour for passenger trains and 120 kilometers per hour for freight trains.
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