FIEC calls for greater transport spending for Europe

The FIEC, which represents Europe’s contracting firms, is calling for greater spending on developing the transportation network. According to the FIEC, a stronger EU budget for transport is of importance for the European economy. An official statement said, “On its own, completing the TEN-T network will create 10 million extra jobs by 2030. State-of-the art transport infrastructure is also an investment in long-term growth and jobs. Investing €750 billion could generate € 4,551 billion additional GDP.” The
October 7, 2019 Read time: 2 mins

The FIEC, which represents Europe’s contracting firms, is calling for greater spending on developing the transportation network. According to the FIEC, a stronger EU budget for transport is of importance for the European economy. An official statement said, “On its own, completing the TEN-T network will create 10 million extra jobs by 2030. State-of-the art transport infrastructure is also an investment in long-term growth and jobs. Investing €750 billion could generate € 4,551 billion additional GDP.”

The Trans-European Transport Network (TEN-T) policy aims to remove bottlenecks, address missing links, improve interoperability among different transport modes and among regional and national transport infrastructure and integrating urban areas into the network. Established by the Treaty of Maastricht, its last revision was in 2013. The 2013 Regulation differentiates etween a comprehensive and a core network - the former including remote areas, the latter containing corridors of “highest strategic importance”. According to the Regulation, the core network should be completed by 2030 while the comprehensive network should be established in 2050.

In order to foster investment in the TEN-T and to meet the policy’s objectives, a specific funding instrument, the Connecting Europe Facility (CEF), was established in 2013. Regrettably, the CEF is currently strongly under financed. Since 2017, three years before its end, the CEF budget for transport has all been used. The demand for CEF funds has exceeded the available resources by around 150%. If the CEF transport budget does not increase in 2021-2027, the completion of the core network is at risk due to insufficient budget. In fact, the completion of the core network by 2030 requires more than €750 billion.

Finance & Funding

Related Content

  • Addressing road safety issues worldwide
    February 27, 2012
    Actions are planned on road safety but are they enough? - *Charles Melhuish and *Alan Ross report. Deaths and injuries on the world's roads are now a major health concern. Road crashes now cause around 1.3 million deaths and injure or disable as many as 50 million persons globally each year. The vast majority of these deaths and injuries (over 90%) occur in low- and medium- income countries adding to their already overburdened health facilities as well as adversely affecting economic and social development
    Read More
  • Roads a priority in Oman’s $14.8bn infrastructure spend
    May 29, 2013
    An upcoming summit will look at opportunities offered by Oman’s infrastructure plans. Oman is planning to spend some US$14.8 billion on infrastructure in the coming years. The figure, almost half of the country’s 8th Five-Year Development Plan for 2011-2015, has been earmarked for overhauling roads, ports and airports with the objective to link the three modes of transport to improve interconnectivity. Oman’s huge infrastructure will include numerous road projects, bridge structures, tunnel constructions an
    Read More
  • Kazakhstan’s London road show woos consortia for Almaty ring road
    March 2, 2015
    Kazak and EBRD officials visited London to highlight the possibility of a public-private partnership under the country’s revised PPP legal framework. David Arminas reports. To build a road, you go on the road, and that is what Kazakhstan did in London in mid-December. Representatives of more than 100 organisations, a mix of construction companies and financial institutions, attended the roadshow-style presentation to attract foreign capital for BAKAD, the Almaty Ring Road Concession. The message was that Ka
    Read More
  • ERF releases key European transport plan
    April 12, 2013
    The ERF is publishing its manifesto intended to improve transport in Europe. Called Keeping Europe Moving, this programme offers solutions for effective management of a safe and efficient European road network. The ERF highlights that chronic underfinancing is leading to a severe deterioration of the quality of Europe’s road network. The manifesto highlights how this is threatening one of Europe’s most important assets. With a total of around 5 million km, the European Union’s road network represents a valu
    Read More

Highlighted Content