EC says Slovakia may transfer EU funds for D1 highway.

By bne IntelliNews March 14, 2011
Slovak Prime Minister Iveta Radicova and the President of the European Commission, Jose Manuel Barroso, agreed that Slovakia may transfer EU funds to finance the construction of D1 highway, SITA news agency reported. We remind that earlier in March the commission opposed the plans of the Slovak government to transfer EU funds to finance motorway projects. Radicova and Barroso agreed that the transfer of money should obey three principles: faster drawing of EU funds for already contracted projects that has been extremely weak until now, reaching some 17%; reallocation of funds from the Transport Operational Program except for the budget for railways; transfer of money from other operational programs from which Slovakia will not draw the overall sum allocated. Earlier in February the government decided to transfer EUR 640mn from EU funds from different operational programs in order to cover motorway financing. Within the operational programme Transport, EUR 250mn would be shifted to road construction while the remaining would come from five other operational programmes including social welfare, education, science and research. The goal of the government is to reduce the budget spending for road construction to below EUR 3.5bn
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