BUSINESS

Commission announces partial freeze on EU grants due to cartel investigation

TAGS: Finance, Economy, EU

The European Commission announced on Friday a partial freeze on disbursements to Greece from the EU’s European European Regional Development Fund for the 2014-20 period.

The EU’s executive said the decision, which is a precautionary measure and it concerns specific projects worth 13.5 million euros, was due to an ongoing investigation by Greece’s Competition Commission that has identified cartel practices by construction companies involved in infrastructure project tenders.

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