UK Fisheries Ministers have agreed to divide the money as follows: - England £26.42m- Scotland £26.42m- Northern Ireland £12.76m- Wales £1.07m
Separate funds will be available for Cornwall (£7.3m), West Wales (£10.68m), and the Scottish Highlands and Islands (£12.41m). All figures are approximate.
The grant scheme is designed to help modernise and improve the sustainability and competitiveness of the fishing industry.
UK Fisheries Minister Jonathan Shaw said this money would make a difference throughout the industries and the supply chain.
"It will invest in projects that will boost business and improve long-term prospects for many people across the UK,” he added.