Financial instrument for fisheries guidance (FIFG) 1994-2006
The FIFG was launched in 1994 to support the EU fisheries sector. In 2007 it was replaced by the European fisheries fund (EFF), which is more closely aligned with the new emphasis on sustainability. The EFF has simpler operating procedures and has been set up to reflect the needs of the enlarged EU with its 27 Member States.
Under the FIFG, fleet overcapacity was addressed through multi-annual guidance programmes (MAGP). In 2002, the MAGPs were replaced by the entry/exit scheme.