United Kingdom: Nottingham Express Transit get GBP100m European support

Release date: 21 December 2011 Reference: 2011-209-EN. The European Investment Bank, the European Union’s long-term lending institution, has agreed to provide GBP 110 million for two new lines of the Nottingham tram network. The long-term funding over 19 years will be used by Nottingham City Council to expand the city’s light rail system with two new lines to the south and south west.

“Extension of the Nottingham tram network will transform public transport links across the city, reduce congestion and support economic growth and regeneration. The European Investment Bank recognises the contribution of sustainable transport to improve the lives of people in Nottingham and local economic opportunities over the coming years.” said Simon Brooks, European Investment Bank Vice President responsible for the United Kingdom.

Councillor Jane Urquhart, Portfolio Holder for Planning and Transportation at Nottingham City Council, the promoter of NET Phase Two, said: “The NET Phase Two project would not be possible without significant investment from the likes of the EIB.

“The EIB’s investment is in recognition of the fact that NET Phase Two will bring significant economic benefits to the region. It speaks volumes about the importance of such projects in kick starting economic growth, creating jobs and providing a catalyst for recovery.”

The two new tram lines funded by the European Investment Bank will have services every seven minutes between 7am and 7pm and include 28 stops along a 17.5km of track. The project also includes 22 new low-floor trams for the line to link park and ride sites next to the M1 at Clifton and Toton Lane with the city centre. The two new lines will link Chilwell, the Queen’s Medical Centre and Beeston, and Cilfton via Wilford.

The initiative is part of the European Investment Bank’s engagement to support sustainable public transport in leading European cities and reduce reliance on private car use.

European Investment Bank financial support for Nottingham Express Transit extension will lower the overall cost for both passengers and taxpayers through cheaper funding costs, fixed interest rates and diversification of funding.

For more information about Projects in United Kingdom see NORTHERN EUROPE Projects

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Bangladesh.Railway Sector Investment Program

The projects proposed for financing under the requested PFR are:

1. Financing of the funding gap due to cost overrun in the Tongi-Bhairab Bazar Double Track subproject under the first tranche;

2. Rehabilitation of yards and extension of loops at different stations in the Darsana - Ishurdi - Sirajganj Bazar section; and

3. Upgrading of Signaling at 11 Stations between Ishurdi and Darsana. 

Project Rationale

1. A framework financing agreement (FFA) for the Railway Sector Investment Program (RSIP) was signed on 7 September 2006 between the Government of Bangladesh and the Asian Development Bank (ADB). The RSIP was approved on 10 October 2006 by ADB s Board of Directors as a multitranche financing facility (MFF) for $430 million.

The RSIP is based on the Government s Sector Roadmap and Investment Plan for 2007 2013 and will improve the performance of the railway sector by implementing (i) a reform project of sector policy, organizational, and capacity building reforms to make Bangladesh Railway (BR) more commercially focused, and improve governance and accountability; and (ii) an investment project of infrastructure and rolling stock capacity improvement investments to overcome capacity bottlenecks in sectors where such investments are both economically and financially viable, e.g., the Dhaka Chittagong and the Dhaka Darsana Khulna corridors.

ADB.South Asia Department.Project Number 32234-04, Bangladesh Railway (BR). 

MFF - Railway Sector Investment Program (Subproject 2) :  Bangladesh

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MEPs show support for single European rail area

Brussels, 15.11.2011. COM(2011) 749 final.COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS.Building an open and secure Europe: the home affairs budget for 2014-2020 {SEC(2011) 1358 final} {SEC(2011) 1359 final}. Parliament approves the Commission’s proposal to liberalise rail services and calls for a plan for managing rail infrastructure and services, and the opening of rail passenger markets to competition.

The creation of an area of freedom, security and justice is a cornerstone of the European project. Home affairs policies contribute to this project by shaping a Europe where persons can enter, move and live freely, confident that their rights are respected and their security assured. An integrated approach to migration and security can bring benefits to the EU and its non-EU partners. The growing importance of home affairs policies has been confirmed by the Stockholm Programme1 and its Action Plan2. This is also one of the areas which have seen important changes under the Lisbon Treaty3. In the field of internal security, the Commission's communication on the Internal Security Strategy in Action4 identifies clear strategic goals and provides a basis for concerted action to address common security challenges in the years to come. Through cooperation and solidarity at EU level and with non-EU countries, substantial progress has been made towards creating a more open and secure Europe.

In spite of this progress, Europe still faces many challenges. A comprehensive, coherent and effective response is needed to the challenge of migration. Citizens also expect the Union to contribute to providing security by combating organised crime, terrorism and other threats. The EU budget plays an essential role in turning the Union's home affairs objectives into tangible results. The creation of an area of freedom, security and justice is achieved by means of a range of 'tools' including spending programmes, networks, large-scale IT systems and EU agencies.

In its Communication of 29 June 2011 on the next Multiannual Financial Framework5, the Commission proposed a home affairs budget of €10.9 billion (current prices) for the period 2014-2020 which represents a continuation of the level of spending foreseen at the end of the 2007-2013 financial framework and remains below 1% of the overall EU budget. Building on evaluation results and stakeholder consultation, the design of the next Multiannual Financial Framework is an opportunity to better align spending at EU level with the Union's strategic policy objectives. Crucially, it is also a chance to improve and simplify the way funding is delivered. This Communication sets out how the Commission has grasped these opportunities in the home affairs area.

MEPs show support for single European rail area