Europe: TEN-T Funding Applications Closed
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The European Commission and the Innovation and Networks Executive Agency (INEA) have closed the second call for proposals for the Connecting Europe Facility programme. The total amount applied for was €13billion spread over 427 proposals. The total amount awarded will be €7.6billion. The successful applicants will be those which can deliver the highest value to Europe. The successful applicants will be announced in the summer of 2016.
The CEF funding is a key part of the Commission’s Investment Plan as part of President Jean-Claude Juncker’s programme of growth and job creation. The TEN-T project includes transport infrastructure projects.
The funding will back projects which are problematic to execute by reason of cross-border issues or projects which are slow to return on investment . The CEF will put forward up to 50% of the budget of reports for projects on the TEN-T core network. The co-financing agreement will be from 10% for cross-border road schemes to 50% of traffic management systems and 85% in cohesion states.
EU Commissioner for Transport Violeta Bulc said:
“I am glad that so many project promoters are eager to invest in efficient, intelligent and sustainable transportation. The Connecting Europe Facility may be the largest funding instrument ever dedicated to transport by the EU, it nevertheless cannot match this enthusiasm. I therefore encourage all applicants and other project promoters to also publish their project on the European Investment Project Portal to reach potential investors worldwide.”