Commission allocates € 260 million of TEN-T stimulus funds

The European Commission has allocated the first € 260 million of the € 500 million allocated to Trans-European Transport Network (TEN-T) in the EU's stimulus plan. The € 200 billion plan was announced last November, with € 170 billion coming from national budgets and € 30 billion from central EU funds.

A total of 18 projects in 11 EU member countries will benefit from this initial round of funding. The Commission says it will make an announcement later this year on a second group of schemes to receive the remaining € 240 million.

The € 500 million does not represent new money for the TEN-T project, which comprises infrastructure projects designed to build missing links or ease bottlenecks in the EU's transport network. It is money that was originally intended to be spread over several years, but which has been brought forward in response to the economic downturn.

European Commission vice president for transport, Antonio Tajani said, "Unlocking this funding shows the Commission is serious about tackling the economic crisis as it is targeted to encourage further economic growth. This funding released under the TEN-T programme plays a crucial role in keeping Europe moving forward."

The Commission lists 18 projects to benefit from the allocation of funds across 11 countries - Austria, Belgium, France, Germany, Hungary, Italy, The Netherlands, Portugal, Spain, Sweden and the UK. The largest single spend is € 76 million towards the new LGV Est high speed railway line between Baudrecourt and Vendenheim in France.