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€6 Billion In Investments & Counting Under EU Atlantic Action Plan

16th March 2018
€6 Billion In Investments & Counting Under EU Atlantic Action Plan

The EU’s 2013-2020 Atlantic Action Plan has spurred over 1,200 new maritime projects and nearly €6 billion of investments so far, according to an independent consultant tasked by the EU to take stock of the initiative at mid-term.

Most of the projects target environmental protection and innovation, as well as improved connectivity and social inclusion.

In 2013, the EU launched the Atlantic Action Plan to boost the maritime economy of its five Atlantic states: Portugal, Spain, France, the United Kingdom and Ireland, and their outermost regions. 

By mid-2017, hundreds of initiatives had cropped up and started contributing to these goals, says the independent study:

500 projects are investing €2.1 billion on the environment – from developing marine renewable energy in France to novel biotechnological applications in Portugal.

  • 500 projects, worth €750 million, target innovations like broadband connectivity in remote areas of Scotland, or maritime spatial planning in Macaronesia.
  • Some 100 projects invest €2.4 billion to improve accessibility and connectivity, mainly by developing port facilities in Spain and Ireland.
  • Around 100 projects worth €360 million promote social inclusion, for example by improving tourism infrastructure in Wales or remote health monitoring in Ireland.

The funding comes from a variety of sources such as the EU (funds for regional development, R&D and the blue economy), the European Investment Bank, national, regional and private sources. The assessment argues that with the Atlantic plan, the community of stakeholders in the Atlantic Ocean area has grown stronger and better at raising funds for marine and maritime projects.

Some 20 projects, involving 320 international research teams, are not just European but involve our transatlantic neighbours as well, thanks to the Galway Statement and the Atlantic Ocean Research Alliance between the EU, the US and Canada.

The European Commission will use the results of the independent study – and of the public consultation that was held last year – to fuel a discussion with the countries concerned and improve the plan’s performance even further between now and 2020. 

This could include more specific objectives and key performance indicators to assess results further down the line, and designing more joint cross-border projects, with greater involvement of coastal regions.

Published in News Update
MacDara Conroy

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MacDara Conroy

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MacDara Conroy is a contributor covering all things on the water, from boating and wildlife to science and business

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