August 10, 2022
Sweden gets US$118.1 million of EU funding to drive growth of aquaculture sector
Sweden has been allocated €115.9 million (US$118.1 million) in EU funding to help promote the sustainable growth of the country's fisheries and aquaculture sectors and to stimulate innovation and cross-sector collaboration.
The European Commission has adopted the European Maritime, Fisheries and Aquaculture Fund (EMFAF) Program for the country and will implement the EU common fisheries policy and priorities outlined in the European Green Deal. The total financial allocation for the Swedish Program 2021-2027 is €231.6 million (US$235.9 million) over the next six years, with the European Union contributing almost half.
In addition to supporting the sustainable development of Sweden's fisheries sector with the EU's Common Fisheries Policy (CFP) by investing in projects that support the landing obligation, the use of selective and predator-safe fishing gear, and which protect marine biodiversity and preserve marine protected areas, the programme will look to increase the country's aquaculture production by 71% by 2030 through investments in startups and the development of existing sites.
Sweden is boosting its EMFAF share for aquaculture with €110 million (US$112.1 million) of national co-financing, bringing total funding for aquaculture to €141 million (US$143.6 million), or 40% of the total programme budget.