The European Commission proposed and the Member States of the European Union agreed to allocate €1.037 billion to five cross-border infrastructure projects selected under the Connecting Europe Facility (CEF) specifically related with trans-European energy networks.

Most of the funds, comparatively, namely 657 million Euros, will be allocated to the EuroAsia Interconnector project, the project of the electrical interconnection of Israel, Cyprus and Greece through a submarine power cable.

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