Romania will spend 2.5 billion euros to modernize the Black Sea military base as part of counteracting Russia's growing presence in the region, according to The Times, quoted by the FOCUS News Agency. Mikhail Koglignichanu Airbase, located about 200 km. east of Bucharest, will be aligned with NATO standards, as evidenced by documents published by local news sites.
Real estate developer CTP has entered the Bulgarian market with plans to reach 100,000 square meters of leased space by the end of 2021. Bulgaria is CTP's seventh market in the Central European region (alongside the Czech Republic, Slovakia, Hungary, Serbia, Romania, and Poland) extending the company's geographical footprint from the Baltic Sea to the Black Sea, reports Emerging Europe.
The security in the Black Sea region entails serious concerns, Russia being the biggest concern, Defense Minister Gabriel Les on Friday told the international conference Black Sea and Balkans Security Forum, which is taking place in the seaside resort of Mamaia.