ECONOMY FINANCE&BANKING

European grants of EUR 31 M for road repairs

European Regional Policy Commissioner Corina Cretu approved on Tuesday, June 7, the financing of the retrospective project on the rehabilitation of the Baia Mare – Livada and Livada – Halmeu road sections (part of National Road 1C) and Satu Mare – Livada road section (part of National Road 19).

The project’s eligible value stands at over EUR 37 M. The European Union will co-finance it with over EUR 31 M from the European Regional Development Fund. The project will see the rehabilitation of 77 kilometres of NR 1C and NR 19, between the Baia Mare and Halmeu, Satu Mare and Livada localities.

Regional Policy Commissioner Corina Cretu stated: “Road infrastructure is a key-domain for Romania’s development and the European Commission supports this sector with non-reimbursable funds. The rehabilitation of some sections of road linking the Satu Mare and Baia Mare counties creates the premises for safer and faster transport between the country’s north-western border counties, with a direct impact on the area’s economic growth.”

The repair works are approaching completion and the costs have been covered at first by the Romanian state, the funds coming from other sources of financing. The decision concerns the co-financing of the project through the Transport Operational Sectoral Programme, part of Priority Axis 2 – “Modernising and developing national transport infrastructure in order to develop a sustainable transport system” 2007-2013.

 

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