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European Union

European Commission Approves 54.7 Million Euros for Fisheries Program

Strategic Insights

— 1 min read

The European Commission has approved a significant program aimed at promoting the development of the blue economy in the Republic of Cyprus. The program, which totals 54.7 million euros, is set to run from 2021-2027 and will focus on supporting small coastal fishing, strengthening the aquaculture sector, and developing coastal areas through local community initiatives. The program also includes actions for controlling fishing activities, collecting data, and protecting the marine environment.

Key Takeaways:

  • The European Commission has approved a 54.7 million euro program for the development of the blue economy in the Republic of Cyprus.
  • The program covers the period 2021-2027 and has been allocated 38.3 million euros from the EU, with the remaining 16.4 million euros coming from the Republic of Cyprus.
  • The program aims to support small coastal fishing, strengthen the aquaculture sector, and develop coastal areas through local community initiatives.
  • The program includes actions for controlling fishing activities, collecting data, and protecting the marine environment.
  • The implementation of the program will focus on achieving the objectives of the Common Fisheries Policy (CFP), including environmentally sustainable fishing and aquaculture practices.
  • The EU's Green Deal and the Farm to Fork Strategy are integral parts of the CFP, aiming to achieve good environmental/ecological status and ensure food availability.
  • The program will also address the challenges of climate change and environmental degradation affecting the sustainable management of fisheries resources.
  • The program is expected to contribute to the further development of the blue economy in the country, creating new and sustainable jobs.

Statistics:

  • 54.7 million euros: Total program allocation for the development of the blue economy in the Republic of Cyprus.
  • 38.3 million euros: EU participation amount in the program.
  • 16.4 million euros: National participation amount allocation by the Republic of Cyprus.
  • 2021-2027: Program duration.
  • 28 September 2022: Date of European Commission approval.

Sources:

  • Al Bawaba (Albawaba.com)
  • SyndiGate Media Inc. (Syndigate.info)

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