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.
Road Structures Finance & Funding

For more information on companies in this article

Related Content

  • Loan to fund Serbian road rebuilding
    September 8, 2014
    Serbia’s Ministry of Construction has plans to rebuild and upgrade some 1,000km of roads between 2014 and 2018. The work is expected to cost €300 million. Serbia’s Government is looking to the EU for the ratification of a previously discussed loan worth €300 million. This loan has been approved by the World Bank, the EBRD and the European Investment Bank (EIB). The money will be used to fund road rebuilding work, with one of the first projects to tackle being the improvement of the Zrenjanin-Zabalj route.
    Read More
  • Bosnia-Herzegovina motorway first
    July 5, 2012
    THE EBRD (European Bank for Reconstruction and Development) is increasing its support for the modernisation of the transport infrastructure of Bosnia-Herzegovina with a €21 million loan for the completion of the construction of the Banja Luka-Gradiska motorway. The motorway, being built with financing from both the EBRD and the European Investment Bank (EIB), is the first in the Republika Srpska, and links the capital Banja Luka with the international transport Corridor X [a pan- European corridor which run
    Read More
  • Loans from Europe will fund highway works in the nation of Georgia
    May 15, 2012
    Loans from the European Investment Bank (EIB) and the EU will fiancé highway work in Georgia. The funds will be used to pay for the construction of the high-speed motor road running from West – East across Georgia. The EIB will give a long-term preferential credit worth €170 million, while the EU will provide a €20 million grant. As part of the project, a four lane highway measuring 52km will be built from Samtrediya – Grigoleti, while the 16km section Grigoleti - Kobuleti stretch will be repaired.
    Read More
  • Go-ahead for controversial highway
    May 30, 2012
    APPROVAL HAS now been given for work to go ahead on a key section of Slovakia’s D1 highway. The work had been delayed as the European Commission (EC) was concerned over environmental issues facing sections of the route that passed through a nature reserve. The EC has now given its approval for construction of the highway between Martin and Presov on conditional terms. The EC says that the sections in zones belonging to the Natura 2000 network can be built once terms are agreed with the Slovak government o
    Read More

Highlighted Content