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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 12:11

A tenth funds needed to build Rail Baltica will be asked in first round

BC, Tallinn, 26.02.2015.Print version
Although the construction of Rail Baltica railway line takes at least 4 to 5 billion euros, the three Baltic states will ask for only a tenth of the cost of building the infrastructure from the European Commission in the first round of funding, LETA/Public Broadcasting reports.

Thursday evening still, the Rail Baltica construction joint venture in Riga was busy preparing the funding application and verifying the technical information. On Thursday, the application must be submitted to the European Commission in Brussels.

 

Rail Baltica's Estonian project manager Miiko Perise said the response on granting or denial of the funding should be sent from Brussels in July-August.

 

While last week, there was a possibility that a total of four applications by four applicants would be submitted for the construction of Rail Baltica, it has now been agreed there will be one application, but four applicants and four recipients of money.

 

"The joint application will have four parties: Rail Baltica joint venture, established in Riga, the Latvian state, Lithuanian state and the Republic of Estonia. Together with foreign aid and national self-financing, the total volume of the application for the four is about 540 million euros. This is the first application, which we collectively send to the European Union, and we definitely plan to submit further applications in the future," explained Perise.

 

Out of the 540 million euros, the joint venture applies for seven million euros, 213 millions is Estonia's part, Latvian part is 291 million, Lithuanian part 28 million euros.

 

"Currently really it is the case that the proportion of Lithuania in this is smaller than it might have been. We certainly hope that the Lithuanian share will increase in the project with the following applications," said Perise.

 

The next round of applications, where the lion's share of the money needed for the construction of the railway will be applied for, takes place in 2017.






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