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

  • Boost to eSafety technologies funds
    May 14, 2012
    The FIA Foundation-coordinated eSafety Challenge, the annual event to promote life-saving eSafety technologies, has received a €1.6 million contribution from the European Commission to support its campaigning activities. The technologies are crucial for helping drivers make the right decisions in emergency situations and have the potential to save thousands of lives on the roads around the world.
    Read More
  • New Vietnam North-South highway link planned
    April 12, 2017
    Work on the new North-South Highway in Vietnam is now underway, with preparatory work having commenced in 2016 and construction scheduled for completion in 2020. The project is being carried out under the PPP model, with initial funding being provided by a system of Government Bonds. The project is expected to cost US$2.43 billion to complete. The tender process for the design phase of the project is now opening, while a pre-feasibility study has yet to be carried out. The project is being overseen by Vietn
    Read More
  • Bosnia Herzogovina highway project receiving EBRD loan
    September 12, 2018
    A loan from the European Bank for Reconstruction and Development (EBRD) worth €180 million will help to pay for the construction of the Corridor Vc highway project. This highway is of key importance for the economic development of Bosnia and Herzegovina as it will provide and improved transport connection with Europe. The loan will help to pay for the construction of three new sections of Corridor Vc, measuring some 16km. The loan will be provided in two tranches, with the first of up to €120 million and b
    Read More
  • Pan-European move
    July 19, 2012
    CECE covers all of the EC and is pushing hard for further investment in infrastructure construction as a means to revitalise the economy. “Our industry looks forward to the implementation of the right policies and incentives to nurture sustainable growth and jobs”, said Ralf Wezel, CECE secretary general. CECE and the European contractor’s association FIEC believe that investment in transport is essential for growth and jobs. To strengthen European competitiveness, delivery of this much needed investment mu
    Read More

Highlighted Content