EU Releases €7 Billion For Environmentally Friendly Transportation

The European Commission has made €7 billion in funding available for sustainable transportation projects.

The funds come from the European Union's Connecting Europe Facility (CEF), which supports initiatives to strengthen and expand transportation nodes along the TEN-T.

Over 400 major European cities will be connected to airports, train stations, and other transportation hubs via TEN-T, which will establish a sustainable and innovative transport network throughout the continent. The move is a part of the European Union's plan to cut down on pollution and improve passenger transportation.

With the help of TEN-T, the EU hopes to reduce transportation-related emissions by 90% by 2050 within the framework of the European Green Deal.

Projects that "increase safety and interoperability" in transportation and attempts to make transportation systems more resilient to the effects of natural catastrophes are eligible for EU financing in the most recent funding cycle.

For the first time, organizations in Ukraine and neighbouring Moldova may apply openly to the European Union for financing of transportation projects.

According to Adina Valean, the European Union's transport commissioner, the current difficult circumstances have also emphasized the need of building a robust transport network of railroads, inland waterways, and marine connections which will boost the overall competitiveness of the economy, bring people closer together, and securely tie Ukraine and Moldova into the union.

To be considered for this financing opportunity, submissions must be received by January 30, 2024.

 

Source: businesstravelnewseurope.com