Emkf European Maritime And Fisheries Fund

Following the unprecedented outbreak of the coronavirus, the European Commission has taken rapid action to protect the fisheries and aquaculture sectors from severe shocks by introducing specific measures, including amendments to the European Maritime and Fisheries Fund (EMFF).
Subsequently, Bulgaria has modified its Operational Programme and has reallocated €6.6 million of public support to compensate companies for financial loss caused by the coronavirus outbreak.
The additional financial support is expected to lead to positive results, improving the lives of people across the entire sector, and preventing bankruptcies, closures, downsizing, and employment reduction. The fisheries sector will receive €763.835 to compensate for economic losses from cessation of fishing activities.
Over 100 fishermen and women will benefit from this support and the number is expected to increase further. The maximum grant amounts to €40 876 per fishing vessel, including compensation for the crew. This support covers both smaller and bigger operators, making it possible to keep family businesses running and saving jobs.
Aquaculture farmers who are economically affected by the coronavirus outbreak will receive €4.027.769, while the processing sector will get €1.835.167 . Support is available for the purchase of goods, raw materials, and supplies related to the company’s activities, along with storage and personnel costs. The maximum grant amount for a single project is €40.876.
The outbreak of the coronavirus pandemic has put the EU’s fisheries and aquaculture sectors under substantial pressure. Many fishermen and women, producers, and processors have been forced to suspend or severely reduce their activities.
The closure of sales venues, markets, outlets and distribution channels has seen a substantial drop in prices and volumes.