The adoption of an investment package for the Lithuanian fisheries and aquaculture sectors is now underway thanks to the European Commission.
The operational program (OP) encompasses the period between 2014 to 2020, and is worth nearly EUR 82 million (USD 92.4 million) under the European Maritime and Fisheries Fund (EMFF), which incorporates EUR 63 million (USD 71 million) in investments from the EU.
The funds will be allocated for increasing competitiveness, sustainability and viability of Lithuania’s fisheries and aquaculture businesses.
"I warmly welcome the adoption of this investment package for Lithuania's fisheries and aquaculture sectors. The EUR 82 million agreed today will enable the country to further develop these sectors and make them more sustainable, for example by supporting investments that limit the impact of fishing on the marine environment," said Karmenu Vella, Commissioner for Environment, Maritime Affairs and Fisheries.
The program aligns well with the EU’s reformed common fisheries policy and integrated maritime policy. “It will promote environmentally sustainable, resource-efficient, innovative, competitive and knowledge-based fisheries and aquaculture. The program will also foster marketing and processing as vital parts of the fisheries industry,” the EU assured.
A complete breakdown of the OP is as follows:
- Promoting environmentally sustainable, resource-efficient, innovative, competitive and knowledge-based fisheries: EUR 10.4 million (USD 11.7 million);
- Promoting environmentally sustainable, resource-efficient, innovative, competitive and knowledge-based aquaculture: EUR 21.2 million (USD 23.8 million);
- Fostering the implementation of the Common Fisheries Policy: EUR 7.4 million (USD 8.3 million);
- Implementing Community Led Local Development strategies: EUR 10.4 million (USD 11.7 million);
- Fostering marketing and processing: EUR 9.2 million (USD 10.3 million);
- Implementing the integrated maritime policy: EUR 1.0 million (USD 1.12 million).
