Fishermen younger than 40 and who have at least 5 years of experience or have acquired an equivalent qualification can have the European Union financing their first vessel, or financing at least a 33% ownership.
This was announced by the European Parliament (EP), which said that €6.1 billion have been approved to promote sustainable fisheries and safeguard fishing communities.
This fund, termed the European Maritime, Fisheries and Aquaculture Fund (EMFAF), encourages member states to invest in making the fisheries and aquaculture sectors more competitive and helping develop a sustainable blue economy, new markets, and technologies. Protecting and restoring biodiversity is also among the fund’s priorities. At least 15% of national allocations will have to be spent on actions to foster fisheries control and data collection, and to counter illegal and unregulated fishing.
Other aspects include:
— fishermen who have to temporarily stop working to abide with certain conservation measures will be compensated;
— those who have to scrap or decommission a vessel if their activities cease permanently will be supported;
— equipment needed to comply with landing obligations and EU fishing control rules, such as vessel tracking and electronic reporting devices, will be financed.
The regulation will enter into force on the day following its publication in the Official Journal of the European Union. It will apply retroactively as from 1 January 2021.
Beacon Media Group Ltd