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EU Commission proposes a new fund for the maritime economy

Strasbourg - For the next long-term EU budget 2021-2027, the Commission is proposing €6.14 billion under a simpler, more flexible fund for European fisheries and the maritime economy. The new European Maritime and Fisheries Fund will support the European fisheries sector towards more sustainable fishing practices

Strasbourg - For the next long-term EU budget 2021-2027, the Commission is proposing €6.14 billion under a simpler, more flexible fund for European fisheries and the maritime economy.

The new European Maritime and Fisheries Fund will continue to support the European fisheries sector towards more sustainable fishing practices, with a particular focus on supporting small-scale fishermen. 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, 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.

Commissioner for Environment, Maritime Affairs and Fisheries, Karmenu Vella, said: “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 sustainably use the oceans and their resources. 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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