EC to Extend Danube Bridge II Deadline

The European Commission intends to be flexible about the deadlines for the EU ISPA program, including those for the construction of Danube Bridge II.

The statement came on the heals of a request on the part of Bulgarian Prime Minister Boyko Borissov and his Romanian counterpart Emil Boc made before the EC to extend the deadline of the financial memorandum for the construction of a second bridge over the Danube River in order to rescue EU financing for the project.

EC says they are willing to extend the deadline until 2012 for several ISPA projects that expire at the end of 2010, where the largest projects with financing over EUR 100 M have the biggest chance for such extension.

Bulgaria is slated to receive EUR 70 M for Danube Bridge II, but financing for both Romania and Bulgaria exceeds EUR 100 M, which gives the project a significant opportunity for extension.