Portugal and Slovenia have become the latest E.U. countries to adopt the European Maritime, Fisheries, and Aquaculture Fund (EMFAF) program, opening the countries to millions in funding.
Portugal will receive EUR 392.6 million (USD 413.2 million) over the next six years, the European Commission has confirmed.
The total financial allocation for the Portuguese program is EUR 539.9 million (USD 568.4 million), with the Commission advising that 37.2 percent, or EUR 146.3 million (USD 154 million), of the allocation will be dedicated to sustainable fisheries and the compensation of additional costs in the outermost regions; 35.8 percent, or EUR 140.5 million (USD 147.9 million) will be invested in sustainable aquaculture and in processing and marketing; 8.6 percent, or EUR 33.8 million (USD 35.6 million), will be dedicated to sustainable blue economy in coastal, island, and internal regions; and 12.4 percent, or EUR 48.8 million (USD 51.4 million), will be invested in the outermost regions, and 1.3 percent, or EUR 5 million (USD 5.3 million), will be invested in the strengthening of international ocean governance.
“The program will help modernize the country’s fisheries and blue economy sectors in line with Europe’s green and digital transitions and will promote sustainable aquaculture and processing activities,” EU Commissioner for Environment, Oceans, and Fisheries Virginijus Sinkevičius said.
Investments will also be made to improve the safety, health, hygiene, working conditions, and energy efficiency of fishing vessels, as well as in fisheries infrastructure improvements.
For aquaculture, funding will be allocated to the diversification of farmed aquaculture species and innovation support.