EU provides €200m funding for sustainable and efficient transport

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The European Commission (EC) together with the European Investment Bank (EIB) has launched the new CEF Transport Blending Facility, a financial instrument to support projects contributing to the environmental sustainability and efficiency of the transport sector in Europe.

With an initial budget of €200m from the EU budget, the Facility will finance investments in the European Railway Traffic Management System (ERTMS) and in alternative fuels infrastructure, leveraging funds from the EIB, National Promotional Banks and private sector.

This is in line with the policy objectives of decarbonisation and digitalisation of EU transport, as well as smart, sustainable, inclusive, safe and secure mobility.

EU Commissioner for Transport, Violeta Bulc, said: “We are further delivering on our agenda for a clean and digital transport system. Today, we are investing €200m for the development of alternative fuels, as well as for accelerating the deployment of ERTMS, which is a cornerstone for digitalising the rail sector.

“By its innovative nature, I have no doubt the Facility will facilitate investment and contribute to the modernisation and better efficiency of European transport.”

The EIB is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investments in order to contribute towards EU policy goals.

In 2018 alone, the EIB invested €8.4bn (signed operations) in transport projects in the EU. The EIB also supports investments outside the EU.

 

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