Press release16.05.2018 | Fisheries and maritime affairs;EU annual budget;
Local and regional leaders call the EU to increase the budget of the European Maritime and Fisheries Fund (EMFF) from 0.6 to 1% of the total EU budget after 2020. The Committee backs the request of the Galicia President Núñez Feijóo to introduce a new financial instrument for small coastal communities to access venture capital and bank guarantees for loans. The EMFF is the Union's main financial instrument to support the Common Fisheries Policy (CFP), standing at EUR 6 396 million. Currently, Spain, France, Italy, Poland and Portugal are the top five beneficiaries of the fisheries fund, accounting for 50% of its total (European Parliament, June 2017).