Creation date: February 11, 2019
One of the key challenges in delivering the ambitious objectives of the Connecting Europe Facility (CEF) Programme is to bridge the funding gap between what the EU can support via its grants and the total final cost of infrastructure. With co-financing rates which can vary depending on the project in fact, beneficiaries need to guarantee future investments which can be up to 90% of the total final cost.
One effective solution, is to combine CEF support with a loan from the European Investment Bank (EIB) to ensure the financial viability of the project.
GreenWay Infrastructure, Slovakia’s leader of charging stations & services for electric vehicles is doing just that. It has received a €17 million EIB loan that will allow it to expand its network of charging stations for electric vehicles at large scale in Central and Eastern Europe. This will contribute to accelerate the transition towards lower carbon transport vehicles in the European Union. The EIB’s financing to GreenWay is the first project in Central and Eastern Europe supported by ‘InnovFin – EU Finance for Innovators’ Energy Demonstration Projects', with the financial backing of the European Union under Horizon 2020 Financial Instruments. This reinforces the synergies between CEF and H2020 programmes, both managed by the Agency.
Greenway Infrastructure will use the funds from the EIB loan to complement the 85% co-funding received through the CEF Transport Programme for two projects in which it is involved:
As delivering the key transport infrastructure needed by European businesses and citizens becomes ever more challenging, transport stakeholders can profit from the various financing opportunities of multiple EU programmes, which can often be used in combination with one another.