Two agreements were signed that would see the European Union hand over more than EUR 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 had been confirmed, Latvia’s public broadcaster LSM reported on November 5.
The funding totals almost EUR 1.40 billion. Of this, approximately EUR 1.2 billion from the Connecting Europe Facility (CEF) and EUR 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 had risen slightly.
Estonia will receive financing for approximately 58 kilometers of the mainline. Approximately EUR 352 million will come from the CEF and EUR 88 million from national sources, totaling about EUR 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. (ERR)