Romania’s Government approved yesterday an emergency ordinance introducing simplified mechanisms to finance infrastructure projects.

One of these mechanisms include the financing of highway segments with EU funds and the use of proceeds from the sale of green certificates to finance the extension of the subway lines.

The bill also tries to simplify the procedure for reimbursements made to constructors. They will be able to justify the money spent in advance when the work is completed, and not at the end of the calendar year, as it has been the case so far. Moreover, payments to constructors can be made as the work progresses.

“The amounts for the constructors’ payments will be transferred from the state budget at the beginning of each quarter, and the beneficiary companies will be able to reimburse the constructor’s expenses when they will present the reimbursement bills, and not before,” according to the Government. This will reduce the duration of payments made to constructors.

The work on the metro lines will be financed with money earned from green certificates. The total amount reaches almost EUR 52 million, and will be used for the Gara de Nord – Lac Straulesti, the new subway line to the Henri Coanda airport, and the Drumul Taberei-Universitate metro line.

editor@romania-insider.com