The agreement is a crucial step towards the EMFF coming into force later this year to support the implementation of the reformed Common Fisheries Policy (CFP).
Commissioner Maria Damanaki welcomed the agreement: "I am very happy about this outcome, because we can now go full steam ahead and implement the radical changes we have agreed last year to finally put European Fisheries on a sustainable footing once and for all. I now look forward to the finalisation of the adoption process by the European Parliament and the Council so that we can start funding projects on the ground as soon as possible".
The agreement between the institutions brings a fresh start: the scrapping of vessels with public money will be phased out, there will be strict conditions for engine replacement and temporary cessation as well as limiting how much money can be used for these measures.
The EMFF will support the rebuilding of fish stocks, reducing the impact of fisheries on the marine environment and the progressive elimination of wasteful discarding practices. It will fund the improvement of fisheries data collection to allow decisions to be based on robust evidence, and fisheries control programmes to ensure that the rules on responsible and sustainable fishing are respected and complied with.
The EMFF will also support measures in favour of small-scale fisheries, young fishermen and local fisheries. It will boost innovation, help communities to diversify their economies, finance projects that create new jobs and improve quality of life along European coasts and to provide consumers with all the information they need. The fund will also support European Aquaculture so that it can fully develop its potential.
For the first time, the fund will also boost Integrated Maritime Policy. Many measures can be funded for example creating a high resolution map of the European seabed and making marine data available to firms and researchers all over Europe.