EU appoints EUR 1 bln funding for broadband and digital services

Monday 3 March 2014 09:18 CET | News

European Parliament approved a EUR 1 billion investment package to support pan-European digital projects and high-speed broadband networks. Priority will be given to so-called ‘building-block’ services such as e-identification, e-signature, e-invoicing and automated translation, explained Digital Agenda Commissioner Neelie Kroes.

Members of the European Parliament voted in their Plenary session to support the digital part of the Connecting Europe Facility proposed by the Commission in 2011 to improve Europes transport, energy and digital networks.

The European Union will spend EUR 1 billion on digital services and improving high-speed broadband networks as part of the deal. The total is a big comedown from the EUR 9.2 billion that was first proposed, but cut by EU leaders in 2013.

With the reduced funds, the program will only be able to provide seed funding for a limited number of broadband projects. Only 15 % of the budget has been earmarked to support broadband, and one third of those must aim for speeds of 100 Mb per second or above.

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Keywords: EU, European Union, funding, broadband services, digital services, e-invoicing, e-signature, e-identification
Categories: Banking & Fintech
Countries: World
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Banking & Fintech

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