The European Maritime and Fisheries Fund officially came into force on May 21st. With a budget of €6.4 billion for 2014-2020, the fund will finance projects to provide financial support to fishermen, fish farmers and coastal communities and projects to boost Blue Growth and jobs in European maritime economy.
EMFF seeks to create the conditions for local businesses and communities to unlock the sustainable and inclusive growth which Europe needs and which the EU is committed to making a reality by 2020. The EMFF will not prescribe how every single cent should be spent; it is about letting those who know their craft, industry, and local community best to work towards a sustainable future for Europe's fisheries and towards a bright, blue future.
The EMFF will co-finance projects alongside national funding streams with each Member State receiving a share of the total budget. Member States will draw up their national operational programmes, specifying how they intend to spend the money allocated and, once approved by the Commission, the national authorities will decide which projects they wish to support.