Siim Kallas: financing of Rail Baltica still undecided

21/05/2012

European Commission’s Deputy President and Transport Commissioner Siim Kallas said that while work on the Rail Baltica project in working groups, including in Poland, is progressing well, financing the project is still under question. The financing is connected to the EU financial framework for 2014-2020. “A financial instrument of uniting Europe, in the volume of around EUR 50 Billion is planned  to finance pan-European larger transport, energy and IT structure projects but there are major disputes over that”, Kallas said.
 A major question for Estonia is whether EUR 10 Billion of Cohesion Fund will be included in the new instrument. All other states getting finances from the Cohesion Fund besides Estonia are opposed to it, hoping that then this money could be used to finance other projects. Kallas said that this might not be correct.
 “We are waiting for the solution to the budget. If that ten billion is not included there, it is very hard to imagine the project (Rail Baltica – ed.) becoming reality,“ said Kallas.

Source:  www.baltic-course.com