Creation date: October 19, 2011
The European Commission adopted today its proposal for a Connecting Europe Facility (CEF), a specific fund dedicated to financing infrastructure works and studies throughout Europe in the next Multi-Annual Financial Framework (2013-2020).
The instrument, which will have a total budget of €50 billion, will be divided in:
Additionally, €10 billion will be earmarked in the Cohesion Fund for transport projects, bringing the total for the sector to €31.7 billion.
In the area of transport, the new instrument seeks to transform the existing patchwork of European roads, railways, airports and canals into a unified trans-European transport network (TEN-T).