The European Commission has adopted a package of measures to stimulate new and different ways of unlocking long-term financing and support Europe's return to sustainable economic growth. Significant long-term investment will be needed under the Europe 2020 strategy and the 2030 climate and energy package, in infrastructure, new technologies and innovation, R&D and human capital. Investment needs for transport, energy and telecom infrastructure networks of EU importance alone are estimated at €1 trillion for the period up to 2020 as identified by the Connecting Europe Facility.
Today the European Parliament approved a €1 billion investment package to support pan-European digital projects and high-speed broadband networks. Members of the European Parliament voted in their Plenary session to support the digital part of the Connecting Europe Facility proposed by the Commission in 2011 to improve Europe's transport, energy and digital networks.
Regulation(EU) No 1316/2013 of the European Parliament and of the Council of 11 December 2013 establishing the Connecting Europe Facility, amending Regulation (EU) No 913/2010 and repealing Regulations (EC) No 680/2007 and (EC) No 67/2010.