European Parliament approves new funding opportunities for infrastructure projects

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Summary -

On 19 November, the European Parliament (“EP”) voted to approve the Connecting Europe Facility (“CEF”) Regulation. The CEF Regulation is likely to become law early in 2014. The CEF Regulation is a funding instrument which earmarks the EU budget for trans-European transport, energy and telecoms projects. It is an important milestone in determining the EU funds which will be available for the projects in the period 2014-2020.

The intention is that the CEF will provide targeted financing for projects with a trans-European dimension. The EP has agreed to assign the CEF a budget of approximately €29.3 billion (based on 2011 prices) for the next EU financial period, which runs from 2014 to 2020. Of the €29.3 billion sum, €23.2 billion has been allocated to the transport sector; €5.12 billion for energy and €1 billion for telecoms.

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Topics:  EU, Funding, Infrastructure, Public Transit

Published In: General Business Updates, Energy & Utilities Updates, Government Contracting Updates, International Trade Updates, Transportation Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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