The European Commission has proposed a new fund for the EU’s fisheries policy for 2014 through 2020. The European Maritime and Fisheries Fund (EMFF) will include a subsidy package of EUR 6.7 billion.
The fund will be used to co-finance projects with member states. The total budget will be allocated to the states based on the importance of fisheries in each country. Each state draws up an operational program for the period, specifying how they intend to spend the money allocated to them. Once the EC approves this program, it is up to the states to decide the actual projects to be financed.
The fund will be a fundamental instrument for the reform of the Common Fisheries Policy. According to the EC, it will give fishermen the incentive to transition toward sustainable fishing. As pressure on fish stocks are relieved and given time to recover, communities dependent on fishing will need to find alternative sources of income. EMFF will help them find ways to add value to their catches and diversify their economy. Monies will also go toward diversification, reinforcing community-led innovation. Small-scale coastal fleets will receive intensified aid.
EMFF will also support projects such as replacing fishing nets with more selective gear in order to reduce discards and the development of new technologies that could lower the impact of fishing and aquaculture on the environment.
