New CEF facility created for funding ERTMS
The European Commission and the European Investment Bank have launched the new CEF Transport Blending Facility, which is a financial instrument to support projects such as ERTMS. With an initial budget of 200 million Euros the Facility supports projects which contribute to the environmental sustainability and efficiency of the transport sector in Europe.
The financial instrument is meant to help leverage funds from the EIB, National Promotional Banks and private sector. To foster deployment of mature projects, the EC sets for the first time a ‘Facility’ which will allow applications for financial support on a rolling basis until March 2021.
“We are further delivering on our agenda for a clean and digital transport system. Today, we are investing 200 million Euros for the development of alternative fuels, as well as for accelerating the deployment of ERTMS, which is a cornerstone for digitalising the rail sector. By its innovative nature, I have no doubt the Facility will facilitate investment and contribute to the modernisation and better efficiency of European transport”, EU Commissioner for Transport Violeta Bulc said.
Close cooperation has been set up with the EIB and a number of National Promotional Banks already expressed their potential interest to join the scheme. The CEF Transport Blending Facility serves as a pilot for the next financial period.