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July 26, 2018

 

EU pledges more than €6 billion to help the aquaculture and fishing industry

 


The European Union reserves a total of €6.14 billion (more than US$7.04 billion) to help fishing and aquaculture businesses move towards a more sustainable future.


Spread over a period of six years, funds will be channelled through the European Maritime and Fisheries Fund (EMFF) and efforts will aim at supporting small-scale fishermen businesses.


Coastal communities will receive more and broader support to set up local partnerships and technology transfers in all blue economy sectors, including aquaculture.


"It will also help unleash the growth potential of a sustainable blue economy towards a more prosperous future for coastal communities. For the first time, it will contribute to strengthening international ocean governance for safer cleaner and more secure, and sustainably managed seas and oceans. Finally, the Commission is reinforcing the environmental impact of the Fund with a focus on protecting marine ecosystems and an expected contribution of 30% of its budget to climate change mitigation and adaptation, in line with the commitments agreed under the Paris Agreement," the European Commission explained.


Karmenu Vella, European Commissioner for Maritime Affairs and Fisheries, added: "Healthy, well-managed oceans are a pre-condition for long-term investments and job creation in fisheries and the broader blue economy. As a global ocean actor and the world's fifth largest producer of seafood, the European Union has a strong responsibility to protect, conserve and use the oceans and their resources sustainably. The Fund will allow Member States and the Commission to live up to that responsibility and invest into sustainable fisheries, food security, a thriving maritime economy, and healthy and productive seas and oceans."

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