BUCHAREST (Romania), April 18 (SeeNews) – The European Commission has confirmed the availability of 1.13 billion euro ($1.39 billion) financing for seven projects of Romania's state-owned railway operator CFR under the Connecting Europe Facility programme, CFR said on Wednesday.
CFR has seven approved requests for financing of projects under the CEF in the 2014-2020 period, it said in statement.
The confirmation of the funds' availability came after CFR sent a required progress report on the calendar and budgets established for the projects, which are mostly behind schedule. Local media reported at the end of February that CFR might lose the financing due to red tape and delays.
The biggest modernization project under the CEF mechanism is the overhaul of the railway section between Brasov and Sighisoara, part of Corridor Rhine - Danube, for which CFR has obtained two financing grants totalling 1.11 billion euro.
CFR said that the the procedures for procurement of services and works were delayed by the legislative changes to public procurement rules introduced in 2016. Last year, the Romanian government approved a plan for accelerating the implementation of projects funded under CEF 2014-2020.
($=0.8086 euro)