World wants to direct half of the revenue from the sale of CO2 quotas to the construction of Rail Baltica

The European Commission has proposed to allocate half of the revenue from the sale of CO2 quotas to the construction of Rail Baltica.

This is stated in the proposal of amendments to the EU budget for 2021-2027, submitted by the European Commission on Wednesday, May 4.

If the proposal is approved, the Rail Baltica project will receive an additional € 1.33 billion in funding.

The European Commission proposes to allocate a total of € 10.94 billion from the sale of CO2 quotas to transport projects.

Of this amount, € 6.61 billion will be allocated to the development of the TEN-T network, and € 4.33 billion to other transport projects.

The Rail Baltica project is a 1,435-kilometer railway line connecting Tallinn, Riga, Kaunas, Warsaw, and Berlin.

The project is expected to be completed by 2030.