European Union to invest record 7 billion euros into sustainable transport infrastructure
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The European Commission announced that it will earmark over 7 billion euros (about $7.66 billion) for 134 transport projects across the European Union (EU), to facilitate the delivery of the bloc's climate objectives and improve its transport networks.
The projects will receive funding through the Connecting Europe Facility (CEF), the EU's fund for strategic investment in infrastructure development. The grants are the largest under the current CEF transport programme, according to a press release from the European Commission.
"The selected projects will help transform Europe's transport network, making cleaner transport modes more efficient and attractive for passengers and freight while enhancing safety across the trans-European transport(network) (TEN-T)," said Climate Action Commissioner Wopke Hoekstra.
Rail projects will receive 80 per cent of the total funds, to improve cross-border rail connections along the TEN-T core network, Xinhua news agency reported.
The release also noted that around 20 maritime ports including those in Ireland, Spain, Finland, the Netherlands, Germany, and Greece will receive support for infrastructure upgrades. Some will enable them to supply shore-side electricity to ships, or transport renewable energy.
