Baltic states are seeking an additional €10 billion from the European Union (EU) budget for the period 2028‑2034 to finance the Rail Baltica high‑speed rail project. Lithuanian Prime Minister Mindaugas Sinkevičius told reporters in Vilnius on 29 October that the amount is needed to keep the project on track. Sinkevičius said the project is currently funded through the Connecting Europe Facility (CEF) mechanism. “Lithuania, together with the other Baltic countries, wants to secure a specific amount—€10 billion—for the new financial period,” he said after a meeting with Raffaele Fitto, the EU Commissioner for Cohesion and Reform. “We see a general trend of reduced CEF funding, which has exceeded €50 billion for all of Europe. The Baltics would like at least €10 billion to ensure the continuation of Rail Baltica.” The Baltic leaders, together with Poland, had previously confirmed their commitment to finish the project in the next EU budget cycle. In a joint letter to EU leaders dated 16 October, they urged predictable European financing and highlighted the strategic importance of Rail Baltica for rapid troop and equipment movement by the EU and NATO to the eastern flank of Europe. The joint venture RB Rail, which operates the project, submitted a new funding request to the EU Commission this week for €357.5 million, of which about €37.3 million is earmarked for work in Lithuania. To date, the EU has allocated roughly €4.5 billion in investments for Rail Baltica through 12 CEF grant agreements. The first phase of the project, which will connect the Baltic capitals to the rest of Europe on a single track, is estimated to cost €15.3 billion. The construction of a second track is projected to cost about €23.8 billion. Rail Baltica will link Tallinn, Pärnu, Riga, Panevėžys, Kaunas, Vilnius and Warsaw. The Lithuanian section of the line will span 392 kilometres.
Article source: Business & the Baltics | Image credit: Business & the Baltics