€450m for urban transport projects
2014-12-19 12:55:32
Summary：The government announced on December 18 that it would be providing €450m to fund 99 urban transport projects with an estimated total cost of €5?2bn Including 15 light rail schemes totalling 81 km as well four metro lines with a combined length of 27 km, the projects are expected to create 50 000 jobs ‘very quickly’, according to Ségolène Royal, Minister for Ecology, Sustainable Development & Energy
The government announced on December 18 that it would be providing €450m to fund 99 urban transport projects with an estimated total cost of €5?2bn. Including 15 light rail schemes totalling 81 km as well four metro lines with a combined length of 27 km, the projects are expected to create 50 000 jobs ‘very quickly’, according to Ségolène Royal, Minister for Ecology, Sustainable Development & Energy.
Local authorities were invited to submit projects that would encourage modal shift from the private car, foster sustainable development and improve connectivity. With the cost of individual projects ranging from €110 000 to €420m, the government will on average be providing 16% of total scheme cost, on the condition that work starts before December 31 2017.
To help complete funding packages, state-owned investment bank Caisse des Dépôts is making €5bn of ‘green growth’ loan funding available at a preferential interest rate of 1?75.
Key Words：€450m,,urban,transport