BUCHAREST (Romania), May 31 (SeeNews) – The European Commission said on Thursday it is providing 265 million euro ($310 million) from the Cohesion Fund for a new section of the M4 motorway linking Hungary's capital Budapest to Romania.
With the new section the travel from Budapest to Hungary's border with Romania will take less than 2 hours and 40 minutes, the Commission said in a statement.
The project should be completed in March 2020.
By linking the two neighbouring EU member states, this new Cohesion Policy project will boost regional and local economies and promote tourism, the EU's executive body added.
"The Hungarians and Romanians will be the first beneficiaries of this project, with a faster, safer connection from Budapest to Bucharest. But ultimately all Europeans and the European economy as a whole will benefit from better connectivity in the region and its positive spillovers for trade, tourism and growth," Corina Cretu, European Commissioner for regional policy, said.
The project concerns the construction of the motorway stretch between the towns of Berettyóújfalu and Nagykereki, the last missing section for a seamless connection to the Romanian border. Its starting point is at the junction with the M35 motorway Debrecen-Berettyóújfalu in Hungary, currently under construction.
($=0.8548 euro)