Gentile Vice Presidente,

Egregio Professor Boccardelli,

Signore e Signori,

What an honour it is to be here with you today,

at a university that stands at the crossroads of academic excellence and civic engagement,

sharing the stage

– and what a stage –

with two such esteemed and distinguished speakers.

Together, we represent the worlds of finance, academia and politics.

If only such cross-sector dialogues were more common,

I believe we would find solutions

to Europes most pressing challenges

much faster!

So, lets seize the moment.

Today we focus on a topic that often goes unnoticed until something goes wrong:

transport infrastructure.

Not just any infrastructure,

but smart and sustainable that connects people and businesses across Europe.

I suspect I dont need to convince this audience of its importance.

Our roads, ports, airports, railways and inland waterways,

are more than physical structures.

The are the backbone of Europes mobility

of our Single Market,

of our cohesion and competitiveness.

At the heart of our transport strategy lies the Trans-European Transport Network,

the TEN-T.

These are the arteries of European integration,

designed to ensure seamless, multimodal connectivity across borders.

Our targets for completing TEN-T are not bureaucratic milestones.

They are deadlines with real-world consequences,

for mobility, connectivity, supply-chains, decarbonization and digitalization.

Im pleased to say that now,

We are in the final phase of delivering the TEN-T core network.

But I also want to be clear:

Coordinating, financing and implementing large-scale infrastructure projects,

especially cross-border ones,

is anything but simple.

Long permitting procedures,  

And complex cross-border procurement processes,

are persistent barriers.

Thats why the “EU Streamlining Directive”

I know they all come with fancy names! 

is such an important step forward,

because it doesnt just simplify permitting.

It introduces a new culture of efficiency and accountability.

And time saved is connectivity gained.

And then, as always, money comes in!

Now, seriously,

we know that building, adapting, modernising, maintaining transport infrastructure,

isnt cheap and need heavy investment.

This is where the Connecting Europe Facility for Transport,

or just call it CEF Transport,

plays a critical role.

This is our key funding tool.

CEF invests,

where Member States dont,

and this is usually on cross-border connections and tackling bottlenecks at borders,

that are critical for the EU as a whole and the overall TEN-T

The current CEF budget for 2021 to 2027 is €25.8 billion.

All projects are selected under competitive calls,

ensuring that mature, high-quality investments with strong EU added value,

are funded.

Now, Italy is a key beneficiary.

Since the first CEF was launched in 2014,

it has supported 183 projects here,

with 3.2 billion euro in EU funding,

triggering over 7.6 billion euro in total investments.

Our final call for proposals under this MFF closed this January,

and results are expected shortly.

Notably, all CEF calls have been heavily oversubscribed,

sometimes by a factor of four,

showing both the demand and the readiness of the project pipeline.

And what we are doing is trying to maximise the impact of public money

through the “use-it-or-lose-it” principle:

delayed projects see their budget reallocated to others that are ready to go.

Of course, still, demand outstrips supply.

Thats why the next Multiannual Financial Framework,

the MFF,

will be critical,

especially as we aim to complete the core TEN-T network by 2030.

Now ladies and gentlemen,

CEF is not the only instrument on the table.

The Cohesion Fund,

the Recovery and Resilience Facility,

the InvestEU,

all play very important roles.

The Cohesion Fund and the RRF

mainly support projects at national, regional and local level.

But we want to see more projects

with strong European added value

financed by the Cohesion Fund and RFF,

including of course,

major TEN-T segments that complement CEF investments.

We also believe that access to these funds

should be increasingly tied to performance and reform.

Improvements in permitting, procurement, and project planning at national level

could make a huge difference.

Italy provides a compelling case.

RRF funding, supported by national resources and the National Plan for Complementary Investments,

totals 235.1 billion euro.

Nearly half of this is directed towards high-speed rail.

And this is a bold and forward-looking choice.

The EU also uses guarantees to de-risk investment.

because we need private money too.

The InvestEU provides a guarantee to the European Investment Bank,

and to other implementing partners,

such as the Cassa Depositi e Prestiti

and CDP Equity,

here in Italy.

Let me give you two concrete examples:

The new high-speed rail line between Palermo and Catania,

a 178km segment of the TEN-Ts Scandinavian–Mediterranean Corridor,

is financed thanks to a collaboration between the EIB and CDP.

InvestEU also finances the ambitious programme

to modernise Italys motorway network

operated by Autostrade per lItalia.

All these projects support EU priorities:

sustainability, decarbonisation, alternative fuels, multimodality and resilience.

But I would like to return to rail again for a minute,

because it plays a central role to climate neutrality.

The revised TEN-T Regulation mandates that Europes major cities

be gradually connected by high-speed rail.

But we are going further.

We are preparing a High-Speed Rail Action Plan that will:

First, encourage Member States to go beyond the TEN-T minimum speed of 160 km/h

and aim for speeds above 250 km/h.

Second, address the remaining technical and operational barriers.

And third, close critical missing links in the network.

Italy is an excellent example.

Its high-speed network is advanced, efficient, and competitive.

Liberalisation has led to better services, lower prices, and more choices,

making rail a genuine alternative to flying or driving between major cities.

This is exactly the future of European mobility.

Ladies and gentlemen,

I have talked about the importance of transport infrastructure

for citizens and our economy.

But the world has changed.

And now, we also have to think about

rapid movement of military equipment and personnel across Europe,

at short notice.

To do this, our infrastructure must meet dual-use standards,

for both civilian and military needs,

particularly along the four priority Military Mobility Corridors.

For the first time,

the current CEF,

allocated 1.7 billion euro to military mobility.

That budget is already exhausted after just three calls,

funding 96 dual-use projects in 21 Member States.

The lesson is clear:

this budget was far too small for todays geopolitical realities.

The next MFF must reflect the urgency

of ensuring infrastructure readiness in a more dangerous world.

Now, looking ahead.

We all know that public resources are limited,

and competition for funding is intense.

But completing the TEN-T core and extended networks

is not just a transport policy.

Its an economic policy.

Its a climate policy.

And its a security policy.

We estimate that completing the TEN-T

will require 845 billion euro between 2025 and 2040.

Key projects like the Lyon–Turin link

or the Brenner Base Tunnel,

account for a significant share of this investment.

This figure is backed by the Letta Report, the Draghi Report, and the Niinistö Report.

All converge on one point:

infrastructure investment is indispensable to Europes strategic autonomy.

On 16 July, the Commission will present its proposal for the next MFF.

My objective is clear:

secure predictable, long-term, and sufficient funding

for transport infrastructure, including military mobility.

We need a robust, centrally managed EU funding program,

similar to the current CEF,

to ensure consistency, cross-border implementation, and strategic prioritisation.

Transport ministers are on board.

But to succeed, we also need the support of finance ministers,

and ultimately, prime ministers.

So, help is very much welcome.

Because I really believe that economists and policymakers,

can help us make this case.

Now, let me leave you with this thought:

completing the TEN-T

is not just about kilometres of track or tons of concrete.

Its about connecting Europeans,

economically, socially, and politically.

Its about sustainability.

Its about making Europe safer and more competitive.

And its about giving young people,

like many of you in this room,

the opportunity to live, work, travel and innovate

across a truly united continent.

Lets invest wisely,

act decisively,

and build a Europe that moves – smartly and sustainably.

Grazie.