The European Commission is appealing for funding for its Connecting Europe Facility – Transport to the tune of €1 Billion. This will be used to boost funding for innovative, sustainable, bold upgrades to the transportation infrastructure. It is also aimed at supporting employment for the current state of infrastructure. This will supplement the Commission’s Energy Union Strategy for Low-Emission Mobility. The “sustainable transport” aim is for the implementation of the initiatives for road mobility.
Maroš Šefčovič, the European Commission Vice-President for the Energy Union said that transportation for the future must be clean, competitive and connected, which also happens to require new methods for funding towards the Low-Emission Mobility Strategy for Europe program.
According to Jyrki Katainen, the European Commission Vice President for Jobs, Growth, Investment and Competitiveness, the €1 Billion for Connecting Europe Facility – Transport will complement the European Fund for Strategic Investments (EFSI). It will allow for flexible solutions in combination with other EU funding sources with the aim of maximizing program impact in line with the EU’s policy objectives.
Violeta Bulc, the Commissioner for Transport stated depending on public financing alone will not be able to raise the needed funds. The Connecting Europe Facility (CEF) will be calling for proposals for grants from a variety of sources including the EFSI, the European Investment Bank, National Promotional Banks and private sector investors. Organizations who want to join the CEF will be asked to provide proof that they have the facility to match public sector funding with complementary private sector funds.
The bold and innovative projects to be selected will have to contribute to the Trans-European Transport Network in a sustainable and seamless manner with innovative methods of transportation. Emphasis will be on projects meant to streamline the flow of goods and traffic, as well as support cross-border links, among other goals, including enhancing the transport network via new inter-modal and inter-operable means.