| Author (Corporate) | European Commission: DG Communication |
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| Series Title | Press Release |
| Series Details | IP/11/1200 (19.10.11) |
| Publication Date | 19/10/2011 |
| Content Type | News |
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The European Commission has tabled a plan which will fund €50 billion worth of investment to improve Europe's transport, energy and digital networks. Targeted investments in key infrastructures will help to create jobs and boost Europe's competitiveness at a time when Europe needs this most. The "Connecting Europe Facility" will finance projects which fill the missing links in Europe's energy, transport and digital backbone. It will also make Europe's economy greener by promoting cleaner transport modes, high speed broadband connections and facilitating the use of renewable energy in line with the Europe 2020 Strategy. In addition the funding for energy networks will further integrate the internal energy market, reduce the EU's energy dependency and bolster the security of supply. To assist with the financing of the Connecting Europe Facility, the Commission has also adopted the terms for the Europe 2020 Project Bond Initiative which will be one of a number of risk-sharing instruments upon which the facility may draw in order to attract private finance in projects. The pilot phase will start already next year. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/1200&format=HTML&aged=0&language=EN&guiLanguage=en |
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| Subject Categories | Business and Industry, Energy |
| Countries / Regions | Europe |
