EU mobilises €1bn to push green transport investments

The EU is mobilising €1 billion (£850m) to leverage private investment in green transport infrastructure. For the first time, a new call for proposals will combine €1 billion of grants (Connecting Europe Facility – Transport) […]

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By Jonny Bairstow

The EU is mobilising €1 billion (£850m) to leverage private investment in green transport infrastructure.

For the first time, a new call for proposals will combine €1 billion of grants (Connecting Europe Facility – Transport) with financing from public financial institutions, the private sector and the European Fund for Strategic Investments.

This aims to help boost investment to fund innovative, sustainable transport infrastructure upgrades while supporting the jobs needed to put this infrastructure in place.

Selected projects must contribute to improving the Trans-European Transport Network. Particular emphasis will be placed on projects removing bottlenecks, supporting cross-border links and accelerating the digitalisation of transport, especially in the poorer Cohesion Fund countries.

Commissioner for Transport Violeta Bulc said: “Achieving our vision for seamless, intelligent and sustainable mobility in Europe requires investments that public funds alone cannot provide. That is why we are launching an innovative solution to make the best of our resources and unlock untapped private investments.”

Support will be granted on a competitive basis, with the first deadline for submission proposals on the 14th of July 2017 and the second one on the 30th of November 2017.

Another new finance initiative from the EU and European Investment Bank (EIB) aims to decarbonise the transport sector in Europe.