President of the European Commission Jose Manuel Barroso emphasised has urged the Baltics to reach an agreement on the Rail Baltica project, the Eesti Päevaleht daily reports.
“It is absolutely vital for the Baltic States to reach an agreement on the principles and the vision for this project of 3.6 milliard euros, 85 per cent of which, by the way, could be financed from the European Cohesion Fund,” said Barroso in the interview to the daily newspaper during his visit to Tallinn recently.
He cautioned that unless a properly prepared project is submitted for funding application, there is always a risk that the resources would be directed elsewhere.
“Rail Baltic is one of the key projects in the pan-European Transport Networks policy. No other project originating from the Baltic States can show an added value for the entire EU that could come close,” said the President of the Commission.
The Rail Baltica project plans to create a rail line from Tallinn to Berlin in an effort to create faster connection times and boost local economies.
It's estimated work on the project could be completed in a decade whilst its hoped construction work could begin next year.