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Europe allocates a new tranche of funding to the project

Posted on 19 July 2024

This is one more step for the continued construction of the Seine-Nord Europe Canal which has just been achieved: Europe has allocated a new funding envelope of 300 million euros to the Seine-Nord Europe Canal under the Connecting Europe Facility (CEF), a financing program for infrastructure projects in Europe's energy, transport and telecommunications sectors.

Major financial support from Europe

Under the call for projects launched in autumn 2023, the European Commission, after approval by the Member States, allocated 300 million euros to the Seine-Escaut link for the continuation of work on the Seine-Nord Europe Canal.

Before obtaining this latest grant, the Seine-Nord Europe Canal project benefited from three financings from Europe:

  • 14 million euros received by VNF and allocated to the CSNE for the period 2007-2013,
  • 163 million euros under CEF1 for expenditure from 2014 to 2023
  • 405 million euros under CEF2 for expenditure from 2024 to 2027

After the 405 million euros allocated mainly for the work in sector 1 (from Compiègne to Passel in Oise), this envelope of 300 million euros will allow work to begin on sector 2. Europe's assessment goes hand in hand with the favorable opinion of the commission of inquiry on the environmental public inquiry of sectors 2 to 6 (from Passel in the Oise to Aubencheul-au-Bac in the North).

In a context of strong tensions in European financing, this new envelope represents a significant financial effort and recalls Europe's desire to successfully complete the decarbonization of transport committed to in its Green Deal.

Europe's financial mechanism

An integral part of the North Sea-Mediterranean multimodal European corridor, the Canal Seine-Nord Europe project is the subject of a European implementing decision entered into force on June 27, 2019. True roadmap for the construction of a large river network interconnected in North-West Europe, this decision details the geographical scope of the Seine Escaut network, the project implementation schedule and governance. As such, the European Commission attends the supervisory board of the Société du Canal Seine-Nord Europe (SCSNE). This implementing decision, from which only three projects in Europe benefit, confirms Europe's desire to support the project over the long term.

On this basis, the Seine-Nord Europe Canal benefits from funding from Europe via the Connecting Europe Mechanism (CEF), a program to support infrastructure projects in the transport sectors.Energy, transportation and telecommunications. Managed by the European Executive Agency for Climate, Infrastructure and Environment (CINEA), The MIE operates through calls for projects generally launched annually.

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Added July 18, 2024

Press release - Europe allocates a new tranche of funding to the project