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Press release
Financial aid for transport and energy networks
Budget - 23-05-2007 - 12:36
Plenary sessions
Plenary sessions
Parliament approved the Council common position on Community financial aid in the field of trans-European transport and energy networks, thus winding up the process at second reading. This regulation adapts existing financial instruments and will allow for a higher Community co-financing rate, especially for projects which are of a cross-border nature, have a transit function or cross natural barriers.
It should lead to a better use of the existing networks, the removal of bottlenecks and the completion of missing links, thus increasing efficiency and competitiveness, reducing saturation points and enhancing the long-term viability of such networks.
Key points of the compromise agreed between EP and Council, including successes for Parliament, include the following:
- Community co-financing levels are set at:
. a maximum of 20% for TEN-T of the eligible cost
. 30% for cross-border projects and 30 priority projects
. 10% in the field of energy.
- Delayed projects can now be cancelled after four years instead of the two years Council wanted. The European Investment Bank will, in addition to the public-private partnership system, offer new instruments in the form of loan guarantees for a maximum of €500m until 2013.
Parliament's rapporteur was Mario MAURO (EPP-ED, IT). The regulation will enter into force on the twentieth day following its publication in the Official Journal of the European Union.
REF.: 20070516IPR06765