Bulgaria, Romania ask EC to extend deadline for ISPA projects financing.

By bne IntelliNews March 1, 2010
The governments of Bulgaria and Romania will ask the EC in a joint declaration to extend the deadline for financing of all projects under the pre-accession programme ISPA until December 31, 2011, a note on the website of the Council of Ministers reads. Also, the authorities of the two countries appeal the EC to allow ISPA funds utilisation of large-scale projects exceeding EUR 100mn until December 31, 2012. The ISPA financing should be utilised by the end of this year. Some of the Bulgarian ISPA projects with significant delays of the construction works are the bridge over the Danube between the Bulgarian city of Vidin and Romanias Calafat, the rail lines and electrification of the road from the second largest city of Plovdiv, located in the southern part of the country, to the town of Svilengrad on the Turkish border, and the 19-kilometere Liulin motorway designed to bypass the capital city of Sofia. The total investment in the motorway amounts to EUR 148.5mn, EUR 111.4mn are granted under ISPA. The value of Danube Bridge II is estimated at EUR 225.8mn, EUR 70mn of which is ISPA financing, and the investment in the railroad project is to reach EUR 201.4mn. Meanwhile, spokesman of Directorate General for Regional Policy at the EC Ton van Lierop has unveiled that the EC intends to be flexible with respect to ISPA financing and may extend the deadlines until end-2012. The decision is expected in a month.

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