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EU transport ministers expect investment security for major projects

22.09.2017

The European ministers for transport, who met in the Tallinn Creative Hub (Kultuurikatel) yesterday and today (20-21 September), confirmed that in order to realise major investments in infrastructure it is necessary to ensure the continuation of investments in the same manner as in the current period of 2014-2020.

"Today we have a successful Connecting Europe Facility (CEF) as a key EU funding instrument for the realisation of the TEN-T network, and I believe the CEF should also continue to provide long-term investments in the future. The stability of future investments over time is crucial for finalising the projects of the TEN-T Core Network by 2030," said Kadri Simson, the Estonian Minister for Economic Affairs and Infrastructure.

"Yesterday’s meeting with the energy ministers really showed that everyone wants to continue with CEF-type financing, as CEF has proven to be very effective. In the transport sector, €22.4 billion committed by 2017 will mobilise over €46.7 billion in overall investments in the EU. By 2030, we need €750 billion of additional investments in the core network and €1.5 trillion worth of investments, including core and comprehensive network," the European Commission's Transport Commissioner Violeta Bulc said, outlining the investment needs of the European transport sector.

The Commissioner also assured that the Commission will continue supporting the Rail Baltic project as its activities will meet deadlines, and that they will use all opportunities available under this financial period to their full extent. “There will be no change in the current mechanism,” the Commissioner said.

Most of the EU transport ministers are also attending the high-level conference ’Connecting Europe’, which focuses on the trans-European transport network. The conference is held on 21 and 22 September at the Nordea Concert Hall in Tallinn.

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