A report shows that EU funding is essential to kick-start investment in infrastructure projects

The mid-term review of Trans-European Transport Network (TEN-T) investment into the European Economic Recovery Plan (EERP) concluded that the EU funding has been vital for attracting further investment from the private sector and public authorities with regard to the infrastructure projects.

The mid-term review of Trans-European Transport Network (TEN-T) published on 30 November 2011 and carried out to assess the progress of individual European Economic Recovery Plan (EERP) funded projects, shows that European Union funding for infrastructure projects has proved to be crucial for the launch or implementation of 90% of the projects covered by the EERP. The report also measures the extent to which the Plan is meeting its objective of contributing to boosting the European economy and speeding up transport construction in Member States.

According to the report, the co-financing rate was only 10-20%, but sufficient to release national or private funds even in times of austerity. Commission Vice-President Siim Kallas, responsible for transport, highlighted that although TEN-T only pledges to fund 10% of the project, it is already enough to attract the rest of the needed investment. Therefore these €500 million that EU is investing into the TEN-T network through the EERP will play a critical role in revitalising the European economy. However, in 2009 the investment granted was €950 millions. The review also revealed that two-thirds of the selected initiatives are being implemented on time (or with a slight delay of no more than six months).

The mid-term review covered all the 36 construction projects co-financed (out of 99 eligible project proposals). The selected projects reflect TEN-T's commitment to environmentally friendly modes, with 18 actions being rail, multi-modal port and inland waterway projects Eight projects (representing 19.5% of the funding) address ITS, ATM and airports.