Danube bridge funding in danger

The EU is warning Bulgaria that €200 million in funding for the second Danube bridge project may be withdrawn if the work is not finished by the close of 2010. The EU is now considering whether to extend the projects deadline and the contractor building the bridge estimates that the work will not be completed until mid-2011. If funding is withdrawn, Bulgaria's Ministry of Transport hope to seek some financing from the European Investment Bank as well as the Bulgarian state budget.
May 15, 2012 Read time: 1 min
The EU is warning Bulgaria that €200 million in funding for the second Danube bridge project may be withdrawn if the work is not finished by the close of 2010.

The EU is now considering whether to extend the projects deadline and the contractor building the bridge estimates that the work will not be completed until mid-2011. If funding is withdrawn, 1119 Transport Ministry of Bulgaria hope to seek some financing from the 1054 European Investment Bank as well as the Bulgarian state budget.
Road Structures

For more information on companies in this article

Related Content

  • Danube bridge takes shape
    February 10, 2012
    A new bridge over the River Danube between Bulgaria and Romania is expected to benefit to the economies of both nations. Krasimir Krastanov reports
    Read More
  • Second Danube bridge construction approved
    May 15, 2012
    Official approval is now being given for changes to the agreement between the Bulgarian authorities and the European Investment Bank (EIB) for the second Danube bridge project. So far the EIB is providing €50 million, with €5 million having already been used. The Bulgarian authorities are agreeing to accept a shorter loan period of 14.5 years rather than the 17-year term originally agreed with the EIB.
    Read More
  • Bulgaria plans for operating road infrastructure
    February 21, 2012
    There is a lot of work to do on Bulgarian roads, but the government has plans to increase the length of highways built each year as Krasimir Krastanov reports. Bulgarian roads with a pavement make up 98.4% of all the country's roads, while 92.5% of them have an asphalt surface and 82.8% of them are able to carry 10tonnes/axle.
    Read More
  • Romania eyes new Danube River bridge
    August 20, 2024
    The announcement by Romania’s minister for transport, Sorin Grindeanu, comes as the Friendship Bridge, connecting Giurgiu in Romania and Ruse in Bulgaria, is closed for repairs.
    Read More

Highlighted Content