LSM: EU allocates over €1 billion for Rail Baltic
Two agreements were signed that will see the European Union hand over more than €1 billion in funding for the Rail Baltic infrastructure project, according to RB Rail.
The initial funding announcement was made this summer, and now the agreement has been confirmed, Latvia's public broadcaster LSM reported on Tuesday.
The funding totals almost €1.40 billion. Of this, approximately €1.2 billion from the Connecting Europe Facility (CEF) and €231 million in co-financing from the three Baltic States.
While the CEF funding was published in the summer, the amounts allocated to all three countries have risen slightly.
Estonia will receive financing for approximately 58 kilometers of the mainline. Approximately €352 million will come from the CEF and €88 million from national sources, totaling about €440 million.
Rail Baltic runs from Tallinn, across the three countries, and ends at the Polish border. The project is behind schedule and over budget
--
Follow ERR News on Facebook and Twitter and never miss an update!
Editor: Helen Wright
