Government Announces €109 Million Funding for Sustainable Aquaculture and Fisheries Infrastructure
Bulgaria is set to enhance its aquaculture and fisheries sector with substantial financial backing, aiming to boost innovation and infrastructure. Deputy Minister of Agriculture and Food, Assoc. Prof. Deyan Stratev, announced at an event in Batak the allocation of BGN 109 million in grants under the Maritime Affairs, Fisheries, and Aquaculture Program (PMDRA) 2021-2027. The funding will support eleven initiatives focusing on productive investments, cessation of fishing activities, and improvement of fisheries infrastructure.
Investment in Productive Innovations
Among the highlighted measures, BGN 20 million will be allocated for productive investments and innovations in aquaculture. This initiative aims to promote sustainable practices and technological advancements in the industry. An additional BGN 7 million will be dedicated to the final cessation of fishing activities, addressing both environmental concerns and market demands.
Enhancing Fisheries Infrastructure
Infrastructure improvement is another key focus, with over BGN 18 million earmarked for upgrading fishing ports and markets. These enhancements are expected to facilitate better operational efficiency and product quality, contributing to the overall growth of the fisheries sector.
Boosting Fish Processing Enterprises
A significant portion of the funding, BGN 15 million, will be directed towards the construction of new fish processing plants and the modernization of existing ones. This initiative will be implemented in three stages, aiming to introduce high-value fish products to the market. The program will cover up to 50% of project costs, with a maximum grant of BGN 2 million per project, fostering market competitiveness and product excellence.
Progress and Impact of Previous Programs
Deputy Minister Stratev also provided an update on the progress of the 2014-2020 Maritime Affairs and Fisheries Program. With 96% of the BGN 195.7 million budget already allocated, significant advancements have been made. The program has supported 95 aquaculture producers and facilitated the launch of 24 new producers. Forty new and modernized processing enterprises have been established, creating 123 new jobs and preserving 130 existing ones.
Local Community Development and Infrastructure Modernization
Through local community strategies, over 180 projects have been supported, driving regional development. The 2014-2020 PMDRA has also seen the modernization of six fishing ports and the creation or renovation of ten boat docks. Integrated Bulgarian maritime surveillance has been implemented as part of the Common Information Sharing Environment (CISE).
Support Amidst Global Challenges
In response to the economic impact of the Russia-Ukraine conflict, BGN 8.9 million in compensations have been disbursed to operators, with an additional BGN 11 million to be distributed in July. These compensations aim to mitigate the financial strain on the industry, ensuring stability and continuity.
