The road is to improve access to the city and benefit industry, the business environment and tourism, as well as the city’s 320,000 inhabitants by reducing noise and pollution levels in the city center, the Commission said in a press release.
The construction project is estimated to create around 740 jobs.
The European Union will provide its share of the financing through the European Fund for Regional Development. The road construction project will cost a total EUR120 million.
Romania was allotted cohesion funds of around EUR19.7 billion for the 2007–2013 period.