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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By Uma Rajagopal

    Posted on October 31, 2024

    Featured image for article about Top Stories

    OHRID, North Macedonia (Reuters) – Lake Ohrid, a UNESCO World Heritage site that straddles North Macedonia and Albania, is at risk from pollution, overfishing, and urban development, the United Nations body and experts say.

    The lake, one of Europe’s oldest dating back 3.5 million years, is home to around 200 unique species, including rare varieties of trout. It serves as a significant tourist attraction and revenue source for North Macedonia and Albania.

    The North Macedonia side of Lake Ohrid was declared a World Heritage Site in 1979 and UNESCO expanded the designation to the Albanian side of the lake in May, 2019.

    In its 2024 report earlier this year, UNESCO warned about the poor quality of real estate development around the lake and over tourism around the coast. It also warned both North Macedonia and Albania that measures to address existing threats and prevent new ones, have not been put in place.

    “The state of conservation of the property is not improving and there is no positive trend to begin to restore its integrity,” UNESCO said.

    Biologist Dr. Zlatko Lefkov said pollution “is constantly getting worse” and that it is taking a toll on native species and the lake’s biodiversity.

    “Some previously rare or absent species are … seizing living space from biologically important or relic species.”

    According to official data, the area around Lake Ohrid, which includes the towns of Ohrid and Struga on the North Macedonian side and Pogradec in Albania, is home to around 170,000 people, an estimated 56% increase over the past 50 years.

    Local authorities say investments in the sewage system, built in the 1980s, are needed as it can no longer handle scores of tourists, who flock to the lake as a cheaper alternative to the sea, Orhidea Tasevska, manager at the hydrobiological institute in Ohrid, said.

    There are project proposals … , but the state must find funds to put these proposals into practice.”

    Environmentalists also warn that rivers flowing into Lake Ohrid and smaller coastal settlements are constant pollution sources.

    (Writing by Aleksandar Vasovic, Reporting by Ognen Teofilovski; Editing by Sharon Singleton)

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