Skip to main content

Hungary road construction funding halt from EC

A dispute between the European Commission (EC) and Hungary has halted the flow of funds for road construction projects. The move has seen the EC officially suspending its payments for road construction projects in Hungary. This move means that funding worth €1.15 billion is not being provided. As a result, Hungary is now considering turning to the European Court of Justice to appeal for the funding stream to be revived.
July 21, 2015 Read time: 1 min
A dispute between the 2465 European Commission (EC) and Hungary has halted the flow of funds for road construction projects. The move has seen the EC officially suspending its payments for road construction projects in Hungary. This move means that funding worth €1.15 billion is not being provided. As a result, Hungary is now considering turning to the European Court of Justice to appeal for the funding stream to be revived.

For more information on companies in this article

Related Content

  • 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
  • Hungary road project, funding secured
    September 11, 2019
    Funding has been secured to help pay for an important road project connecting Hungary with neighbouring Slovakia. The EU is supplying €552.6 million, which will be used to improve the motorway that connects Hungary’s industrial city Miskolc with Tornyosnémeti, lying on the border with Slovakia. The work will include widening a 60km stretch of the existing route and constructing 48 new bridges. Construction is expected to be complete in the first quarter of 2022. The project is being financed through the EU’
  • Polish public procurement practices pilloried
    November 29, 2012
    Comments by the European Construction Industry Federation (FIEC) have thrown the spotlight on Polish public procurement practices. "We have never ever heard such outspoken criticism about procurement practice and contracting authorities in a single country by so many contractors from so many different enterprises and countries," commented Ulrich Paetzold, director general of FIEC.
  • Road sector drives Europe’s construction recovery
    September 13, 2017
    Despite political concerns and upheavals, Europe’s construction market is on the up, reports Graham Anderson Europe’s road building market is forecast to grow strongly in real terms up to 2019, as a strengthening economy boosts construction, creating investment and jobs. The market is predicted to grow by 16% between 2016 and 2019 and is being led by increases in the UK (39%), Norway (38%) and Poland (35%). In the UK, the market is buoyed by a number of major projects coming on stream, such as England’