5: Infrastructure
Step up investments to modernise Europe's infrastructure. Other Information:
– For at least the next two years, the EU budget is unlikely to spend the full amount set out in the financial framework.
Therefore, for 2009 and 2010, the Commission proposes to mobilise an additional € 5 bn for trans-European energy interconnections
and broadband infrastructure projects. To make this happen, Council and Parliament will need to agree to revise the financial
framework, while remaining within the limits of the current budget; – With a financial envelope of over € 347 bn for 2007-2013,
cohesion policy provides considerable support to public investment by Member States and regions. However, there is a risk
that pressure on national budgets will slow down the rate of planned investment. To give an immediate boost to the economy,
the implementation of the structural funds should be accelerated. To this end: – The Commission will propose to increase its
pre-financing of programmes to make up to € 4.5 bn available earlier in 2009; – Member States should use the available flexibility
to frontload the financing of projects by enhancing the part financed by the Community; – The Commission will propose a number
of other measures designed to bring forward the implementation of major investment projects, to facilitate the use of financial
engineering funds, to simplify the treatment of advances paid to the beneficiaries and to widen the possibilities for eligible
expenditure on a flat rate basis for all the funds. The Commission underlines the need for early adoption of these proposals.
– By the end of March 2009 the Commission will launch a €500 million call for proposals for trans-European transport (TEN-T)
projects where this money would lead to construction beginning before the end of 2009. This will bring forward existing funds
that would have been reallocated by the mid-term review of the multiannual TEN-T programme in 2010; – In parallel, the EIB
will significantly increase its financing of climate change, energy security and infrastructure investments by up to € 6 bn
per year, while also accelerating the implementation of the two innovative financial instruments jointly developed with the
Commission, i.e. the Risk Sharing Finance Facility to support R&D and the Loan Guarantee Instrument for TEN-T projects to
stimulate greater participation of the private sector; – The EBRD will more than double its efforts for energy efficiency,
climate change mitigation and financing for municipalities and other infrastructure services. This could lead through the
mobilisation of private sector financing to € 5 bn investments.
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