Skip to main content

Funding found for Romanian road

A €305.7 million loan is being provided to Romania through the European Commission. This will be used to to fund the construction of the Cernavoda-Constanta section of the Sun Highway. The loan will not have to be repaid as it will fall under the Cohesion Fund. The Romania retroactively requested the EU to fund the Highway after contracting with the European Investment Bank in 2005 for a loan to cover construction costs.
January 20, 2015 Read time: 1 min
A €305.7 million loan is being provided to Romania through the 2465 European Commission. This will be used to to fund the construction of the Cernavoda-Constanta section of the Sun Highway. The loan will not have to be repaid as it will fall under the Cohesion Fund. The Romania retroactively requested the EU to fund the Highway after contracting with the 1054 European Investment Bank in 2005 for a loan to cover construction costs.

For more information on companies in this article

Related Content

  • Moldova’s transport infrastructure to receive external funding
    May 22, 2013
    Transport infrastructure in the Republic of Moldova will benefit from loans worth a total of €300 million. The European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) are providing the loans, which will be used to improve and upgrade existing road links and also to update Moldova’s national railway company, CFM. The road improvements will be targeted at 290km of roads in the north and central areas of Moldova.
  • EBRD funding for St Petersburg project?
    April 27, 2012
    The European Bank for Reconstruction and Development (EBRD) intends to provide a US$277 million (€200 million) loan to the Northern Capital Highway consortium, which will build the central 11.5km section of St Petersburg’s Western High Speed Diameter (WHSD) route. The EBRD’s board of directors has said will consider the loan on 14th February 2012. The finance package is of note as Russian road projects have largely found funds from other sources so far. The Northern Capital Highway consortium estimates the
  • Slovakian tunnel in funds dispute
    March 16, 2012
    There are questions over the funds available for Slovakia’s Visnove Tunnel project. A former Transport Minister believes that the Transport Ministry will face challenges finding €664 million needed to build the tunnel, which forms part of the D1 highway.
  • EC approves €246 million for Targu Mures-Campia Turzii motorway
    June 22, 2018
    The European Commission has approved €246 million towards construction of Romania’s Targu Mures-Campia Turzii section of the A 3motorway. The EC money for the 51km four-lane section is from the EC’s Cohesion Fund, according to a report by the Romania Journal. Bechtel was originally going to build most of the 603km A3 to connect Bucharest with the Transylvania region and the north-west part of the country. Work should have started by now but contractual issues with Bechtel hampered progress.