Topicality. Over the past decade, there have been signs of improvement of the Black Sea. However, its unique water areas and coastline are still under serious threat. The Black Sea is unprotected from significant anthropogenic pressures, and has a low adaptive potential. If as the region's economy grows, these pressures will intensify, the problem will become more serious.The implementation of the Directive 2008/56/EC establishing a framework for Community action in the field of environmental policy on the marine environment (Marine Strategy Framework Directive) are important for Ukraine. The use of the marine environment, taking into account the ecosystem approach and the principle of integrated management improves the environment, biodiversity, development of industries marine complex, especially commercial fish and shellfish, recreation and tourism.Aim and tasks. The aim of the article is to discuss the challenge to institutional development for funding of implementation of EC Marine strategy framework directive.Research results. Directive 2008/56/EC aims to achieve good environmental status of marine waters and to protect the marine resources that affect the economic and social activities. The main stages of the implementation of Directive 2008/56/EC include: 1) adoption of national legislation and designation the authority or authorities competent for the implementation of this Directive; 2) initial assessment of the current environmental status of marine waters; determine good environmental status for marine waters and establishment environmental targets and associated indicators; establishment of monitoring program for the development of ongoing assessment and regular updating purposes; 3) development programme of measures to achieve good environmental status.Focus is on methodological questions related to a common understanding of the technical and scientific implications of the Marine Strategy Framework Directive. In particular, one of the objectives of the strategy is the development of non-legally binding and practical documents, such as co-financing of MSFD measures.Conclusions. The cooperation towards the setting up of the Common Maritime Agenda is a bottom-up process between the participating countries, with the involvement of the relevant stakeholders. Participation in the activities which will be undertaken under this cooperation remains voluntary, depending on the needs to be addressed and as appropriate.
Potential economic impacts of achieving good environmental status in Black Sea fisheries