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New rules for funding trans-European networks (TENs)

The European Parliament and Council have recently adopted revised rules for the funding of projects under the trans-European networks (TENs) - in the fields of transport, energy and telecommunications. These flagship projects are aimed at improving communications, living stand...
The European Parliament and Council have recently adopted revised rules for the funding of projects under the trans-European networks (TENs) - in the fields of transport, energy and telecommunications. These flagship projects are aimed at improving communications, living standards and creating employment throughout the EU, and in particular contributing to the development of peripheral regions.

In addition to setting an overall limit to financing of 4,600 million euro for the years 2000-06, the new Regulation makes a number of changes to the rules for allocating funding to TENs projects. In order to encourage risk capital investment in TENs projects, the EU may contribute a small amount to risk capital funds which will prioritise TENs projects in their investment.

For the majority of projects, funding may now be granted over a period of several years, bringing greater stability and easier planning to individual projects. Currently, funding is only allocated year-by-year. Finally, in specific cases, the EU may contribute more than the current 50% limit, whereas in the event that no work starts on a project within a specified time, the EU may now withdraw its contribution.

Source: Official Journal of the European Communities

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