Business News, 18/01/2019

Eastern Partnership: €13 Billion Investment for Better Transport Connectivity with the EU

The European Commission together with the World Bank have developed a new Indicative trans-European Transport Network (TEN-T) Investment Action Plan that identifies priority projects in Armenia, Azerbaijan, Belarus, Georgia, Republic of Moldova and Ukraine. Together, these almost 100 projects amount to an investment of almost €13 billion up to 2030 and foresee a total of 4,800 kilometers of road and rail, 6 ports, and 11 logistics centers.

The agreement on the maps extending the TEN-T to the Eastern Partnership countries has entered into force on 9 January.

Commissioner Johannes Hahn, responsible for European Neighbourhood Policy and Enlargement Negotiations, underlined, “The completion of the Indicative TEN-T Investment Action Plan is a joint commitment to deliver tangible results for citizens across the region. The Plan will assist decision-makers in prioritizing strategic investments in transport infrastructure with the aim of completing the TEN-T network defined as one of the 20 deliverables for 2020 in the Joint Declaration of the last Eastern Partnership Summit in Brussels.”

Commissioner for Transport Violeta Bulc said, “Enhanced transport connectivity both within the Eastern Partnership region, and between the Eastern Partnership region and the EU has the potential to bolster economic growth and create job opportunities. The Plan shall also serve to highlight the importance of road safety as well as digital solutions in new projects, and to align design standards with current EU practices.”

The projects included in the investment plan were identified together with the Eastern Partnership countries and with the assistance of the International Financial Institutions. Those projects will make possible the construction and rehabilitation of new and existing roads, rail, ports, airports as well as logistical centers and border crossing points. The priority investments include both short-term projects to be completed by 2020 and long-term projects aiming to improve transport links on the TEN-T by 2030. Along infrastructural investments, the presented investment plan aims to bring forward key reforms for the transport sector and improve road safety in the region. The development of the project on the TEN-T is expected to foster regional development by improving access to economic opportunities, harnessing the benefits of industrial agglomeration and increasing market competition.

Source: EU Delegation to Ukraine