EU Lawmakers Advance $39B Infrastructure Upgrade Plan

Law360, New York (June 27, 2013, 4:32 PM EDT) -- Seeking to implement a pan-European infrastructure investment program, members of the European Parliament on Thursday provisionally agreed on a €30 billion ($39.1 billion) funding package earmarked for transportation, energy and telecommunications upgrades to be implemented between next year and 2020.

The agreement came as representatives from European Union nations closed out a three-session meeting meant to hammer out details of the infrastructure overhaul investment, dubbed the Connecting Europe Facility. The six-year initiative has hit snags as Europe's economy wavers, forcing budget adjustments that cut into the...
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