Innovation and Networks Executive Agency

EERP mid-term review shows EU funding essential to kick-start investment

Creation date: November 30, 2011

European Union funding for infrastructure projects has proved to be crucial for the launch or implementation of 90% of the projects covered by the European Economic Recovery Plan (EERP), according to a new report. The mid-term review of Trans-European Transport Network (TEN-T) investment into EERP concluded that the funding has been vital for attracting further investment from the private sector and public authorities. This review was carried out to assess the progress of individual EERP funded projects and to measure the extent to which the Plan is meeting its objective of contributing to boosting the European economy and speeding up transport construction in Member States.

 

Commission Vice-President Siim Kallas, responsible for transport, said: "The TEN-T has an essential role to play as a catalyst for further funding. Even if TEN-T only pledges to fund 10% of the project, it is already enough to attract the rest of the needed investment. These €500 million we are investing into the TEN-T network through the EERP will play a critical role in revitalising the European economy. Although work is ongoing, it is very encouraging to see that the large majority of projects are on schedule. This assessment also confirms the centralised management of TEN-T funding, a direct follow-up to the mid-term review conducted last year. I expect that this close monitoring will help the EU and the Member States to implement the available resources in the most optimal way. This is an important lesson for our discussion on CEF for the post 2014 period."

 

The EU launched EERP in response to the financial crisis of 2008, and as a part of this, €500 million of TEN-T funds were advanced to 2009. Mature projects were selected to allow a prompt start in 2009, and investment continued in 2010.

 

The present mid-term review covered all the 36 construction projects co-financed (out of 99 eligible project proposals). The selected projects reflect TEN-T's commitment to environmentally friendly modes, with 18 actions being rail, multi-modal port and inland waterway projects Eight projects (representing 19.5% of the funding) address ITS, ATM and airports.

 

The co-financing rate was only 10-20%, but sufficient to release national or private funds even in times of austerity. The review also revealed that two-thirds of the selected initiatives are being implemented on time (or with a slight delay of no more than six months).

 

Background

 

List of projects

The mid-term review was based on an analysis of annual progress reports submitted by beneficiaries to the TEN-T Executive Agency[1]. This analysis was complemented by qualitative information gathered from representatives of Member States involved in the projects through interviews and questionnaires. The TEN-T Executive Agency coordinated the exercise, with the support of an independent expert who prepared the final report.

 

The report and the list of projects are available available here: http://tentea.ec.europa.eu/en/ten-t_projects/eerp_projects/

 

[1] The TEN-T Executive Agency, established by the European Commission, is responsible for managing the technical and financial implementation of the TEN-T programme.