Fishing vessel investment scheme renewed to support modernisation of sector

The government said it is renewing a scheme supporting investment aboard fishing vessels to help Maltese and Gozitan fishermen modernise their fleets, improve safety conditions and strengthen the sustainability of the fishing sector.

In a statement, the Ministry for European Funds and the Implementation of the Electoral Programme and the Parliamentary Secretariat for Fisheries, Aquaculture and Animal Rights said that the Investments on Board Fishing Vessels Scheme under the European Maritime, Fisheries and Aquaculture Fund (EMFAF) will reopen in the coming weeks.

The scheme is intended to help fishermen invest in modern equipment and technologies, improve onboard safety, strengthen energy efficiency and continue making the sector more sustainable and resilient for the future.

European Funds Minister Stefan Zrinzo Azzopardi said the third call under the scheme will have a total budget of €200,000, including €112,000 in European funds.

“Through this scheme we are continuing to support our fishermen so they can invest in more modern equipment and safer and more sustainable working conditions, while continuing to strengthen the competitiveness of the Maltese and Gozitan fishing sector,” he said.

Parliamentary Secretary Alicia Bugeja Said said that the scheme is being extended following strong interest and positive responses from the sector.

She said fishermen are seeking to modernise their vessels, reduce operational costs and improve working conditions, adding that the government is also working on other schemes to support fishermen, including assistance related to rising bait prices.

Bugeja Said also announced plans for another scheme aimed at young fishermen, through which youths purchasing their first vessel could receive financial assistance covering up to 40% of the vessel’s price.

The renewed scheme will be open to holders of MFA or MFB licences and will focus on investments aimed at improving sustainability, competitiveness and the modernisation of the Maltese and Gozitan fishing fleet.

Further details about the application process will be announced in the coming weeks, the government said.

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