New EMFF budget announced for 2021-2027 targeting the Blue Economy
The European Maritime and Fisheries Fund (EMFF) is one of the five European Structural and Investment (ESI) Funds which complement each other and seek to promote a growth and job-based recovery in Europe.
As announced by Karmenu Vella, the new fund of 6.14 billion euros for the period 2021-2027 will be simplified and with a more flexible architecture to allow money to flow to areas where Member States need more action. With more targeted and more effective actions on the ground, the new fund will focus on tackling challenges and achieving ambitious objectives such as:
1. Achieving the objectives of the Common Fisheries Policy –most notably sustainable fishing in the long term.
- The EMFF will help fishers to innovate and to invest in sustainable fishing practices, giving priority to small-scale coastal fishermen.
- Giving that currently the EU imports more than 60% of its supply of fishery products, the EMFF will also continue its support to the aquaculture sector for generating affordable high-quality European fishery and aquaculture products.
2. Support the development of a sustainable blue economy.
Europe’s maritime sector already employs over 5 million people generating about 500 billion euros a year. The EMFF will support further economic growth by removing bottlenecks and facilitating investment in new markets and technologies.
3. Promote well-managed oceans beyond European shores.
This fall in line with the United Nations’ 2030 Agenda for Sustainable Development.
The objectives mentioned above can thus be summarized in 4 main priorities:
With this type of EU actions, the vision is to help guarantee safe, secure, clean and sustainably managed seas for all.
But until then, don’t forget to check the funding opportunities under the current EMFF! You can find them here: https://ec.europa.eu/easme/en/funding-opportunities
You can also check the official press release here.