Pan European Networks - Horizon 2020 - page 206

I S S U E S I X
H O R I Z O N 2 0 2 0 P R O J E C T S : P O R TA L
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S O C I E T A L C H A L L E N G E S : T R A N S P O R T
ensure they have the right assistance technically to develop. The
Transport Commissioner said projects need to have “clear EU added
value, meaning projects that support our EU objectives in terms of smart
and clean mobility”. She outlined how ventures also need to be
“economically viable” and “with high socioeconomic returns”, as well as
being “mature enough and [able to] start, at the latest, within the next
three years”.
Bulc said she was certain that the industry could deliver:“I am very
confident that the transport sector can provide a solid pipeline of projects
with socioeconomic and financial benefits. We are not starting from
scratch. We are speeding up the process and clearing the pipeline.
“The number of projects in the field of transport for the next three years
is estimated to be above €100bn of investments by the Commission
(ports, dedicated rail lines, canal upgrades, motorways, intelligent
transport systems and clean fuel technologies). EU member states have
already provided to the joint Commission-EIB task force, established in
September, lists of projects selected according to our three criteria, out
of which a large portion is dedicated to transport infrastructure.”
Potential investment
The Transport Commissioner then spoke of the Christophersen report,
an investigative study to identify potential projects that are especially
suitable for financing as part of the Commission’s ‘Jobs, Growth and
Investment Package’ by former European Commission vice-president
Henning Christophersen. Bulc briefly shared some of the findings.
“At the initiative of the Italian Presidency, the Christophersen report has
also identified transport projects along TEN-T corridors particularly suited
for the new EFSI. Let me inform you about a few examples of the type of
projects pre-identified by Mr Henning Christophersen, together with
European co-ordinators Carlo Secchi and Kurt Bodewig.
“Some corridors and missing infrastructure links, such as Rail Baltic
between Warsaw and Tallinn, the road and rail access to the Port of
Barcelona or the upgrade of the Kiel Canal; ‘business enablers’ such as
the development of the ports of Dublin and Valletta; and urban transport
“The new EFSI, set up in partnership with the
EIB, is therefore of particular importance for
transport. It will complement, not substitute, the
instruments already in place, such as the CEF,
the Cohesion Fund or the EIB loans, where the
transport sector is already one of the main
beneficiaries. With a risk-bearing capacity of
€21bn, this new instrument (the EFSI) will target
more risky projects than the ones financed up
to now by the EIB.
“It will also contribute to the financing of certain
types of investment that could not get access
to EU grants or only have limited access
compared with their needs, for instance
equipping vehicles with clean and intelligent
transport systems, the European Rail Traffic
Management System, Single European Sky
ATM Research (SESAR), fast electric charging
points, to mention a few. It will concentrate on
the most mature projects that can start within
the next three years.
“The CEF, which many of you contributed to
building, will use the new investment fund to
deploy its innovative financial instruments.
These financial instruments under the new fund
will be able to cover wider risks and generate
better leverage, attracting even more
investment capacity, with a ratio prudently
estimated at 1:15.
“Let me be clear: the 10% of the CEF budget
contributing to the EU guarantee does not
imply any change to the priorities of the TEN-
T or of the CEF you defined. With a strong
budget in the CEF, enough grants are
available for projects that could not be
financed without them, in particular the major
cross-border projects and bottlenecks on the
TEN-T corridors.
“On the contrary, our TEN-T priority projects will
now be eligible to both grants from the CEF and
financial instruments from the new fund. This
will allow EU member states to exclude these
projects from the calculation of the national
debts and deficit since the guarantees given to
secure private investment will be provided by
the EU.”
New projects
Bulc then delivered to committee members a
three-point checklist that can be used to
identify the right projects to be financed and
Frankfurt Airport:
the European
commissioner said
initiatives such as the
Single European Sky
could benefit from
the EFSI
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