EU might cut financing of Rail Baltica project

EU might cut financing of Rail Baltica project
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The European Union might reduce funding of Rail Baltica project intended to connect the Baltic countries’ railway lines with Europe. Such move might be caused by Lithuania’s dragging out the process of the project environment harmonization.

The EU’s Innovation and Networks Executive Agency is planning to immediately start revision of Rail Baltica project with the consideration for the fact that Lithuania delayed approval of its financing and implementation model, as it is said in a statement by EU Director-General for Mobility and Transport.

On Friday, Director-General informed RB Rail, the Baltic states’ joint enterprise for the project implementation, that, according to the European Commission, there was a considerable delay in the project implementation. In particular, the matter concerns reaching an agreement on the model of the project’s financing and implementation.