The European Commission proposed a EUR 1 billion investment for 39 transport projects which will unlock a total of EUR 4.5 billion of public and private co-financing. The largest part of the funding will be allotted to the development of the European rail network (EUR 719.5 million), decarbonising and upgrading road transport (EUR 99.6 million), as well as developing maritime ports (EUR 78.9 million) and inland waterways (EUR 44.7 million).
All proposed projects were selected for funding via a competitive call for proposals, open for projects in all EU Member States, which was launched in February 2017. 68 applications accounting for a total of EUR 2.2 billion of requested co-funding were received by the first call deadline in July 2017. The EU’s financial contribution is made in the form of grants, with different co-financing rates depending on the project type
This investment is being made under the Connecting Europe Facility and combines, for the first time, EU grants with financing from the European Investment Bank, National Promotional Banks and private banks The selected projects will upgrade Europe’s rail network, further develop alternative fuels infrastructure and pave the way for zero emission water transport.
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