NEW IRISH €26.8 MILLION INVESTMENT
New Irish €26.8 million investment under Brexit Processing Capital Support Scheme. Ireland’ Minister for Agriculture, Food and the Marine, Charlie McConalogue, has announced details of a €26.8 million investment in 44 seafood processing projects which are helping drive transformational change in the sector.
The Seafood Capital Processing Scheme is funded by the European Union under the Brexit Adjustment Reserve (BAR). Bord Iascaigh Mhara (BIM), Ireland’s seafood development agency, administers the scheme on behalf of the Department of Agriculture, Food and the Marine, which provides for up to €45 million in funding to the seafood processing sector.
Announcing details of the investment on European Maritime Day, Minister McConalogue said:
“The Processing Capital Support Scheme is providing significant investment in seafood processing enterprises, which employ some 4,000 people in rural coastal communities.
“This scheme is supporting seafood processing industry to develop their enterprises, navigate the challenging trading environment and support jobs in this important sector.
“I am pleased to highlight Brexit Adjustment Reserve funding opportunities available to the Irish seafood processing sector as Europe’s marine community come together on European Maritime Day.”
The scheme is based on a recommendation of the Seafood Taskforce which was established by Minister McConalogue to assess the impacts of Brexit and the Trade and Cooperation Agreement on the fishing sector and coastal communities. It is targeted at projects which are deemed as transformational capital investment in the seafood processing sector.
Minister McConalogue added:
“This investment is supporting the Irish processing sector to undertake transformational change, mitigating the effects of Brexit including reduced supply and access to markets. Through the scheme, my department through BIM is helping seafood processors build more environmentally friendly, sustainable and competitive enterprises which serve the EU and wider global markets.”
Photo credit: Donegal Fish