The European Commission has adopted a plan for EUR 50 billion to improve European networks. The plan was presented as the "Connecting Europe Facility" (CEF) and will finance projects which fill the missing links in Europe's energy, transport and digital backbone as well as promoting a greener economy.
EUR 9.1 billion (of the EUR 50 billion worth of investments) will be allocated to trans-European energy infrastructure for the period 2014 - 2020 in order to help meet the EU 2020 energy and climate objectives. The CEF implements commitments made by the Commission last year. These commitments include a proposal for a regulation on guidelines for trans-European energy infrastructure. The proposed regulation will grant priority to 12 strategic trans-European energy infrastructures (corridors and areas) as well as set rules to identify certain projects of common interest (PCIs). Compared with other projects, these PCIs will go through a special permit procedure (faster, easier and more transparent) and be supervised by a single competent authority as designated by each Member State. EU financial means are available for these PCIs. EU funding will be supported by the EUR 9.1 billion out of the EUR 50 billion boost by the CEF.
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