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EU Wants a Rail Renaissance to Help De-Carbonize Transport

  • Plan seeks to spur cross-border travel while curbing emissions
  • EIB to provide 8.7 billion euros in funding for rolling stock
Updated on

The European Union laid out an action plan to increase the use of cross-border rail as part of its efforts to curb greenhouse gas emissions and keep the bloc on course for climate neutrality by the middle of the century.

The European Commission proposed streamlining national regulations, cutting track-use costs and boosting the region’s long-suffering night-train network. The European Investment Bank will provide 8.7 billion euros ($9.8 billion) for companies to buy new rail cars and related equipment, according to a senior Commission official.