A French Overseas Territory, Saint Pierre and Miquelon is located in the North Atlantic Ocean, south of Newfoundland. Its population stands at 6 125 and its capital is Saint-Pierre.
Its inhabitants traditionally earned their livelihood through fishing-related activities, now in decline due to the steady drop in the number of ships stopping at Saint Pierre, disputes with Canada over fishing quotas and 1992 limitation of Saint-Pierre and Miquelon's exclusive economic zone to roughly 12 km², following the judgement of the Arbitration Tribunal of New York.
The 10th European Development Fund (EDF) , amounted to €20.74 million, supports Saint Pierre and Miquelon’s development strategy 2010-30, ‘Schéma de Développement Stratégique’, a 20-year development strategy which aims to bring about more sustainable economic development.
Under the Technical Cooperation Facility (TCF II), Saint Pierre and Miquelon is receiving €93,927 of TCF II funding to undertake a feasibility study on ICT economic development.
Under the 11th EDF, Saint Pierre and Miquelon has been granted an indicative amount of €26.3 million for the period 2014-2020.