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Europe will invest €392 million in Portuguese maritime

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Staff writer ▼ | December 7, 2015
The European Commission has announced its key investment package for the Portuguese maritime, fisheries and aquaculture sectors for 2014-2020.
Portuguese fishing ship
Support   European Maritime and Fisheries Fund
Under the European Maritime and Fisheries Fund (EMFF) roughly €506 million will be available, including about €392 million of EU funding.

Funding will support investments in fisheries, aquaculture and processing industries that boost competitiveness and sustainability. This includes adjusting the capacity of the Portuguese fleet to available resources, reducing energy consumption, promoting innovation and increasing sustainability in the aquaculture sector.

Funding will also focus on helping producer organisations to better organise themselves.

Particular attention will be paid to measures reducing the impact of fisheries on the marine environment and to protecting aquatic biodiversity and ecosystems through marine protected areas.

The Portuguese outermost regions of the Azores and Madeira will be compensated for extra costs incurred.

Local development initiatives (Fisheries Local Action Groups - FLAGs) will receive more funding, and more emphasis will be placed on joined-up action with other EU funds at regional level. The programme will also support Portuguese public bodies in enforcing CFP rules and providing sound data for the management of the fisheries and aquaculture sectors.