The EU will support transport projects with seven billion Euros
Approximately seven billion Euros will the EU spend in the future for over 130 transportation projects in Europe. The money is intended to primarily support projects that help the EU achieve its climate goals, the European Commission announced. Germany is also set to benefit from the funding. According to the statements, 80% of the money is earmarked for rail transport.
The money is also supposed to flow into road, air, and shipping transport. Large projects to improve cross-border railway connections are also to be promoted, the Commission stated. Among them are projects between Baltic Member States, between France and Italy, and the Fehmarn Belt Tunnel between Denmark and Germany.
The seven billion Euro project, a four-lane road and railway tunnel, is planned to open in 2029 and connect the German East Sea Island of Fehmarn with the Danish Island of Lolland. The tunnel and the accompanying new railway line are expected to reduce train travel time from Hamburg to Copenhagen to roughly two and a half hours.
Germany is set to receive approximately 480 million Euros from the funds. The funds are allocated for nine national projects and ten cross-border EU projects with German participation.
The European Union is allocating billions of Euros for transport projects across Europe, with a significant portion aimed at supporting projects aligned with EU-Climate Goals. Besides rail transport, funds will also be distributed for road, air, and shipping transport, with an emphasis on improving cross-border connections.
The funding will contribute extensively to projects, such as the improvement of railway connections between Baltic Member States, France and Italy, and the Fehmarn Belt Tunnel between Denmark and Germany, which is set to receive a significant portion of the budget.
