EC approves EUR 145 mln investment to protect Romania's Black Sea coast from erosion
The bulk of the investment is going towards protective structures and beach replenishment. According to the Commissioner for Regional Policy Johannes Hahn, the project is an example of how the structural funds contribute to environmental protection and regional economic development. The investments along the Black Sea coast will help to minimize the effects of coastal erosion and will benefit both tourists and local residents. The area's attractiveness for business development and tourism will be increased.
An additional benefit is a reduction oft he flood risk in the areas, potentially saving millions of euros in flood damage, according to the EC.
The scheme qualifies as a “major project” and thus requires an explicit decision from the EC, rather than at a national or regional level. It comes under the EU Coastal Marine and Policy: EU Recommendation on Integrated Coastal Zone Management. The EU will provide EUR 145 million in funds, while total investment is expected to be EUR 170 million. According to the EC, Romania's Black Sea coast attracts some 8 million visitors a year.
Liam Lever, liam@romania-insider.com
(photo source: Corina Chirileasa/Romania-Insider.com)