EU proposes new fund to invest in maritime economy and fishing communities

Under the next long-term EU budget 2021-2027, the European Commission is proposing €6.14 billion ($7.21 billion) under a simpler, more flexible fund for European fisheries and the maritime economy.

The fund will continue to support the European fisheries sector towards more sustainable fishing practices, with a focus on supporting small-scale fishermen, and develop the üotential of the blue economy towards a more prosperous future for coastal communities. The fund will support: strengthening international ocean governance for safer, cleaner, more secure, and sustainably managed seas and oceans; and protecting marine ecosystems.

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 the Member States and the Commission to live up to that responsibility and invest in sustainable fisheries, food security, a thriving maritime economy, and healthy and productive seas and oceans.”