European investments approved
12 July 2011
A string of large investments and loans were approved by European development institutions in June and July supporting infrastructure projects and initiatives throughout the region.
In France, the European Investment Bank (EIB) loaned € 250 million to support the construction of the 20 km third line of the tram network in Montpellier. The funds will cover the renovation of four stations and construction of 26 stations.
Supporting rail projects is one of the EIB's core activities in France and the latest funds come after the Bank agreed a € 1,2 billion loan to support the South Europe Atlantic high-speed rail line (SEA HSR) - a project being constructed and operated by a joint venture between Vinci and railway infrastructure manager Réseau Ferré de France.
And in Italy, the EIB approved a € 300 million loan in July to support the construction of the Milan-Naples high speed rail line. The funds were awarded to the Italian Rail Network and brings to € 5 billion the total that the EIB has invested in the overall € 32 billion project.
In Poland, the EIB approved an € 800 million loan to support the construction of 176 km of roads, including a 26 km stretch of the A1 and a 135 km stretch of the A4. Both motorways are parts of the Priority Trans European Network (TEN T) Corridors.
Meanwhile, on July 1, the European Commission launched the European Energy Efficiency (EEEF) Fund - a facility to finance public energy efficiency and renewable energy projects within the European Union. The EEEF has so received € 265 million in financial backing and aims to raise a total of € 800 million to support new projects.
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