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

  • Hungary may introduce Budapest congestion charge
    January 16, 2015
    Hungary is considering introducing a congestion charge scheme to capital Budapest at the end of 2016. The aim of the scheme is to cut congestion in the city, with traffic jams and delays frequent particularly in the historic centre. The scheme will also help generate revenue that will pay back EU funding worth some €565.2 million, which was used to pay for the construction of the M4 underground line in the city.
    Read More
  • Romania’s major road development plans
    October 12, 2022
    Romania has major road development plans.
    Read More
  • Has the promised investment happened?
    July 10, 2012
    At the end of 2008 and the start of 2009, the world's banking system spiralled into crisis, triggered by a series of catastrophic blunders caused by bankers trying to create money from nothing. The result was to plunge the world's economy rapidly into recession. Having proved in effect that lead cannot be turned into gold, the bankers retired on fat pensions leaving governments to pledge huge sums to the banks and fill in the financial gaps.
    Read More
  • European transport pricing deadline
    September 3, 2012
    Public consultation is nearing completion on the sensitive issue of internalising external costs to make transport users pay for the perceived negative effects they inflict on society, including air pollution, CO2 emissions, accidents and congestion. Within six months a universal model will be unveiled by the European Commission (EC).
    Read More

Highlighted Content