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New fund for the EU's maritime and fisheries policies

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Thursday, 08 December 2011

New fund for the EU's maritime and fisheries policies

The European Commission (EC) has finally unveiled its proposals for the new maritime and fisheries fund that will run for the period 2014-2020. Maria Damanaki, Commissioner in charge of Maritime Affairs and Fisheries states that “this new fund will increase economic growth and create jobs in the sector. No more money will be spent to build big vessels. Small scale fisheries and aquaculture will benefit of this budgetary greening of the Common Fisheries Policy." The proposed envelope amounts to € 6.5 billion.

According to the EC, the so-called European Maritime and Fisheries Fund (EMFF) will help deliver the ambitious objectives of the reform of the Common Fisheries Policy and assist fishermen in the transition towards sustainable fishing, as well as coastal communities in the diversification of their economies.

The fund will finance projects that create new jobs and improve quality of life along European coasts. Red tape will be cut so that beneficiaries have easy access to financing.Likewise, it will replace the existing European Fisheries Fund (EFF) and a number of other instruments.


Source: European Commission