The financing was signed Tuesday by Commissioner for Regional Policy Corina Cretu and is part of a wider investment package for 25 large infrastructure projects across ten member states, totaling EUR4 billion.
The European Commission has allotted EUR1 billion to help upgrade Bucharest’s ring road by expanding several of its sections, doubling the lanes in each direction. It will also support the construction of a 51-km section of the southern part of the new Bucharest Orbital Motorway.
Also in Bucharest, EUR97 million of EU funds will finance works on the entire metro line 2 (Berceni-Pipera), with new tracks and rolling stocks.
Almost EUR603 million will support the protection and rehabilitation of the highly touristic area of the Black Sea coastline in Constanta county. The project includes cliff consolidation works, replenishment of sand on the beaches, biodiversity preservation measures (artificial reefs and repopulation of marine species) as well as monitoring equipment.
The EU will invest more than EUR135 million in better drinking water and waste water systems in Timis county. An additional 15,000 inhabitants will be connected to the drinking water network and almost 380,000 people will enjoy better drinking water, the EC said in a statement.
For the period 2014 – 2020, Romania benefits from an allocation of over EUR22 billion within the EU Cohesion Policy. Large infrastructure projects are worth over EUR50 million of Cohesion Policy funds (EUR75 million in the case of transport projects). Given their scale, these projects are subject to an assessment and a specific decision by the Commission.