The UK allocation of the European Maritime and Fisheries Fund has been distributed fairly to each devolved nation based on factors including respective sizes of fleet, number of ports, sizes of industry, and historical allocations.
All four devolved administrations worked together to agree the allocations.
From next year, the UK fisheries, aquaculture and processing sectors will be able to apply for grants from the scheme to help them grow their businesses. Up to 60 per cent of the cost of equipment will be available to help fishermen adapt to the landing obligation and other aspects of the new Common Fisheries Policy.
Marine and Fisheries Minister, George Eustice said: “This deal means that fishermen in every part of the UK will have access to a fair allocation of funding to help them buy the equipment they need to adapt to the new Common Fisheries Policy. This will help the fishing industry invest in their businesses and deliver long-term economic growth.”
The Welsh Minister for Natural Resources and Food, Alun Davies, said that the agreement reached will result in a good deal for Wales.
“As a result of some intense negotiations we have managed to secure a share of 8.4 per cent for Wales. This represents an increase of 38 per cent from the proposals originally put forward by the UK Government and results in a much better deal for Welsh fishermen," said Mr Davies.
The size of the UK allocation is currently being decided by the EU Commission. The current European Fisheries Fund is worth €138 million to the UK. The new allocation is expected to be higher.
Allocation of the European Maritime and Fisheries Fund in 2014 – 2020:
Scotland - 46.00 per cent
England - 35.60 per cent
Wales - 8.40 per cent
N. Ireland - 10.00 per cent