On 19 October 2011, the European Commission (EC) released a funding proposal, known as the Connecting Europe Facility, which targets spending of 9.2 billion euros on projects investing in high-speed and ultra high-speed broadband networks as well as pan-European digital services.
In a press release, the EC explains that at least 7 billion euros would be available for investment in broadband infrastructure, which could leverage a total of between €50 and 100 billion of public and private investment. This would represent a substantial proportion of the estimated €270 billion of broadband investment needed to meet Digital Agenda targets on broadband (broadband access for all at speeds of at least 30 megabits per second (Mbps) by 2020, with at least 50% of households subscribing to speeds above 100Mbps).
In the case of digital services, the Commission adds that the sums will be used to fund grants to build infrastructure needed to roll-out e-ID, eProcurement, electronic health care records, Europeana, eJustice and customs-related services.
- Digital Agenda: Commission proposes over €9 billion for broadband investment http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/11/709&format=HTML&aged=0&language=EN&guiLanguage=en
- Connecting Europe Facility: Commission adopts plan for €50 billion boost to European networks http://europa.eu/rapid/pressReleasesAction.do?reference=IP/11/1200&format=HTML&aged=0&language=EN&guiLanguage=en