Press Release: Transport: European Commission reviews funding for 92 major Trans-European Networks infrastructure projects

European Commission Vice President Siim Kallas has published the first ever mid term review of 92 priority Trans-European Networks infrastructure projects, co-financed by the Commission under the TEN-T programme for 2007-2013. The review provides a detailed "snap shot" of the state of play of each major infrastructure project in terms of financing and completion. The aim is to introduce more accountability into the funding process and to make sure that EU money is being well spent. Over half (52.2%) of these 92 major pan-European infrastructure projects are still on track for completion by December 2013, despite the tough financial environment. For the rest, the mid term review applies a strict "use it or lose it" principle. A two year extension is granted to credible projects which are facing difficulties in the economic crisis, to support their completion. But for projects which, at this mid term stage, are no longer credible, EU funding will be cut and re-allocated.

European Commission: Memo/10/526:Mid-term review of the 2007-2013 TEN-T Multi-Annual Programme Project Portfolio http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/10/526&format=HTML&aged=0&language=EN&guiLanguage=en

European Commission: Speech/10/599: Siim Kallas, Vice-President of the Commission, responsible for Transport, "Speech on Mid-term review of the 2007-2013 TEN-T Multi-Annual Work Programme Project Portfolio at the European Parliament TRAN Committee", Brussels, 27 October 2010 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/10/599&format=HTML&aged=0&language=EN&guiLanguage=en

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