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

  • Europe’s contractor’s association, the FIEC, is calling for infrastructure investment
    March 14, 2013
    The European Federation of construction contractors (FIEC) is pressing Europe’s members of parliament to vote for infrastructure investment. The European Parliament is to decide on the Multi-annual Financial Framework, which forms part of the EU’s Multi-Annual Financial Framework and the FIEC is insisting that infrastructure investment will provide much-needed jobs and help kick-start economic activity. FIEC president Thomas Schleicher said, “Clearly, the realisation of infrastructure projects, saving energ
    Read More
  • EU launches investigation into Fehmarn Belt financing model
    June 21, 2019
    The European Commission said it will investigate the public financing for the Fehmarn Belt link to see if it in line with state aid rules. The announcement follows the European Union General Court's annulment of a previous Commission decision approving the support. "Today's opening of such an investigation is an invitation for all stakeholders to provide their input, which will allow the Commission to adopt a new, well-informed final decision,” said Margrethe Vestager, EU Competition Commissioner.
    Read More
  • Collaboration on road infrastructure innovation
    February 4, 2014
    Transnational collaboration on road infrastructure innovation is the aim of the ERA-NET Plus (EN Plus) Infravation event. The Infravation 2014 Call for this collaboration of 11 countries on road infrastructure innovation will be launched on 3rd March 2014. It will pool funding of some €9 million, of which one-third comes from the European Commission (EC). For the first time, the US Federal Highway Administration (FHWA) will also contribute funding to an EN Plus Call however. This is because the FHWA sees th
    Read More
  • US$ billions for Ivory Coast road expansion programme
    March 14, 2024
    Ivory Coast is investing US$ billions for its road expansion programme.
    Read More

Highlighted Content