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.
Finance & Funding

For more information on companies in this article

Related Content

  • Food price increases are resulting from biofuel targets?
    August 31, 2012
    Critics of Europe’s push towards biofuels are pointing out that the strategy is boosting the cost of foodstuffs around the world. The combination of drought and high grain prices are fuelling a growing clamour within Europe that is criticising the policy on boosting biofuel use.
    Read More
  • ERF welcomes European Commission’s consultation on charging for the use of infrastructure
    January 2, 2013
    That roads are essential for Europe’s prosperity is something no policymaker in their right mind would deny Roads have a major impact on our daily lives, as it is one of the primary means of access to employment, services, and social activities. Moreover, by linking people and other modes of transport, they are a sine qua non for achieving greater cohesion within Europe. In light of this, it is somehow hard to believe how long it has taken policymakers to wake up to an inconvenient truth. This is that chr
    Read More
  • Poland plans push-starting project
    February 28, 2012
    In the wake of the difficulties in Poland over the withdrawal of Chinese contractor COVEC from the A2 highway project, the country's government is now looking for a way ahead.
    Read More
  • Ghana strikes road funding deal with China
    December 13, 2018
    A funding arrangement has been agreed between Ghana and China to pay for road construction works. The package is for a US$646.6 million deferred payment deal. It has been set up with Sinohydro to cover an engineering, procurement and construction (EPC) contract. This will be for upgrade and improvement work for roads and interchanges. The package is the first in a series worth up to $2 billion that will pay for various major infrastructure projects in Ghana. One of the projects will include building a road
    Read More

Highlighted Content