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

  • China banks on the Belt and Road Initiative
    October 8, 2019
    Changsha, the capital of Hunan province, is capitalising on its well-established equipment and componentry manufacturing base as China’s global Belt and Road Initiative gathers momentum.
    Read More
  • Safety improvements in developed nations
    August 20, 2013
    At a time when road safety is posing a significant threat to both human health and economic development around the world, it is worth noting that in many developed nations the situation is improving. The United Nations has identified road safety as a major problem and established its Decade of Action for Road Safety for the 2010-2020 period, in a bid to cut the growing death toll. But while developing nations are seeing a vast growth in vehicle numbers and road fatalities, the improving road safety situ
    Read More
  • Liebherr cranes on the Rader
    December 10, 2024
    Germany’s Rader High Bridge spanning the Kiel Canal along Germany’s A7 motorway is to be replaced and widened over the next few years. Eighteen Liebherr cranes are handling the lifting.
    Read More
  • India rushing to improve its highway system
    February 9, 2012
    Despite the world economic slowdown, India still seems in a rush to improve its highway system as Patrick Smith reports. Later this year India will be seen by hundreds of millions worldwide when the country's capital New Delhi hosts its biggest event ever.
    Read More

Highlighted Content