EC LAUNCHES 2020 EMFF PRE-FINANCING PROCESS
EC launches 2020 EMFF pre-financing process. In order to quickly direct the available European public funds to address the consequences of the coronavirus crisis, under Article 139 of the ESIF Regulation, the European Commission has waived this year the obligation to request the refunds of unspent pre-financing from the fund until programme closure.
In addition, starting on 30 March, the Commission has launched the 2020 annual pre-financing process for the European Maritime and Fisheries Fund (EMFF) in advance and paid a sum of up to €160.3 million. This allows the Member States to use the funds to accelerate investments in response to the coronavirus outbreak and ease the socio-economic burden caused by the crisis on the fisheries and aquaculture sectors. EC LAUNCHES
- helps fishermen in the transition to sustainable fishing
- supports coastal communities in diversifying their economies
- finances projects that create new jobs and improve quality of life along European coasts
- supports sustainable aquaculture developments
- makes it easier for applicants to access financing.
How it works
The Fund is used to co-finance projects, along with national funding.
- Each country is allocated a share of the total Fund budget, based on the size of its fishing industry.
- Each country then draws up an operational programme, saying how it intends to spend the money.
- Once the Commission approves this programme, it is up to the national authorities to decide which projects will be funded.
- The national authorities and the Commission are jointly responsible for the implementation of the programme.