The EU is to invest €2.7 billion (£2.4bn) for 152 clean and connected transport projects.
Through actions like upgrading rail lines, removing bottlenecks and improving cross-border connections, the investment is expected to not only modernise Europe’s transport and mobility sectors but also stimulate economic activity and spur job creation.
This investment will be made under the Connecting Europe Facility (CEF) mechanism to support infrastructure networks and is expected to unlock around €4.7 billion (£4.2bn) of other public and private finance.
Projects have been selected to maximise value and impact across the continent – one example is developing a rapid charging network for electric vehicles linking Sweden, Denmark, Germany, France, the UK and Italy.
EU Commissioner for Transport Violeta Bulc said: “This new wave of investment focuses on clean, innovative and digital projects to modernise Europe’s transport network.
“Today we are one step closer to a true Transport Union, serving the needs of citizens, stimulating the economy and creating jobs.”