The three Baltic States lack sufficient funding to complete the first phase of the Rail Baltica railway project, LSM reports. The total cost of the first phase is estimated at EUR 15bn, and only slightly more than EUR 5bn of funding has been pledged so far. Marko Kivila, CEO of the project’s central coordinating entity, RB Rail, said that financing from the EU’s next multiannual budget would not be enough to fill the funding gap. RB Rail expects each of the three Baltic governments to cover part of the shortfall from other sources, Kivila said. Meanwhile, Latvian Prime Minister Andris Kulbergs argued against set deadlines, insisting that it made “no difference” if the Baltic States proceeded with the construction at different timetables. He warned that politically driven deadlines could lead to increased costs.
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