Business, Freight News, Logistics, Sea

EU cash for UK ports?

[ October 20, 2011   //   Chris ]

Better links between UK ports and other parts of Europe could be among the projects funded by  €50 billion (about £44 billion) worth of investment from 2014 to improve Europe’s transport, energy and digital networks announced by European Commission President José Manuel Barroso on 19 October.

The Connecting Europe Facility aims to fill missing links in Europe’s energy, transport and digital backbone as well as promote cleaner transport. Other types of projects funded could include offshore electricity grids or broadband networks.

The Commission also said it will pilot next year with the European Investment Bank a new Project Bond to reduce the risk for third party investors seeking long-term investment opportunities and act as a catalyst to re-open the debt capital market. If the pilot is successful the scheme will be significantly expanded from 2014.