Latvia's aquaculture sector receives US$217 million in investments
 

The European Commission has adopted an investment package for Latvia's fisheries and aquaculture sector worth nearly €184 million (US$217 million), including €139m of EU investments.

The package aims to enhance the competiveness, sustainability and viability of the sector.

EC Commissioner for Environment, Maritime Affairs and Fisheries, Karmenu Vella, said, "With this investment, much needed jobs and growth can be created in the Latvian fishing industry. Latvia is the first country to have its programme adopted and I look forward to the other 26 following this example."

The investment budget allocated for the various activities of the Latvian Fisheries Operational Programme is as follow: Promoting environmentally sustainable, resource efficient, innovative, competitive and knowledge-based fisheries (€41.9 million); Promoting environmentally sustainable, resource efficient, innovative, competitive and knowledge-based aquaculture (€46.3 million); Fostering the implementation of the Common Fisheries Policy (€13.1 million); Implementation of Community Led Local Development strategies (€15 million); Fostering marketing and processing (€54 million); Implementing of the Integrated maritime policy (€3.3 million).