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EC proposes subsidizing Baltic energy links

  • 2009-01-29
  • From BNS wire reports
BRUSSELS - According to the Commission's proposal the second sea cable between Estonia and Finland,Estlink 2, would be subsidized with 100 million euros, while the cable linking Sweden with Latvia or Lithuania would get a subsidy of 175 million euros.

Last November the European Commission made a proposal to invest the unused 5billion euros from the EU budget for the building of energy links and broadbandcommunication links. Leaders of the European Union countries endorsed theproposal at their December summit.

In the European Union conclusions the recommendation was given to use themoney already in 2009 and 2010 in order to thus revive the economy.

The proposal would get its final endorsement at the finance ministers'council in March or April.