MercoPress. South Atlantic News Agency

EU extends Spain over a billion Euros in fisheries funds

Spain is the European Union country most benefited from the allocation of funds made available under the European Fisheries Fund, (EFF) for the period extending from January 2007 to December 2013.

The total budget allocation for the seven years is 3.849 billion Euros and Spain will be receiving 1.005 billion Euros, according to a release from the EC.

However from the beginning of next year, the EFF will replace the Financial Instrument for Fisheries Guidance (FIFG) as the EU's core instrument for financial support to the fisheries sector and fishing communities.

Part of the 3.849 billion Euros budget, around 272 million Euros, has been set aside for Bulgaria and Romania when they accede to the European Union, on 1 January 2007. Funds are also allocated specifically for the technical assistance provided by the Commission for the implementation of the EFF around 30 million.

In line with the provisions of the Regulation creating the EFF, adopted by Council on 27 July 2006, the Commission has made an annual indicative breakdown by Member State for the remainder of the budget, i.e. around 3.545 billion Euros, identifying each time the amount available for the 'convergence regions'.

One of the guiding principles of the EFF is to focus EU funding on the less developed areas of the Union, known as the 'convergence regions'. In line with this principle, around 2.6 billion Euros have been allocated under the EFF to the convergence regions on an indicative basis.

In Spain's case the EU allocated 840.2 million Euros for the convergence regions, Galicia and Andalucia, and the rest of Spanish communities will receive 165.2 million Euros. Other beneficiaries include Poland with 651.8 million Euros; Italy 376.6 million; Portugal 218.7 and France, 191.7 billion Euros.

The total budget allocated for the FIFG for the 2000/2006 period was 3.7 billion Euros for the 15 Member States. An additional 272 million were earmarked for the 10 new Member States for the period 1 May 2004 to 31 December 2006. Funding for the EFF is provided under the new EU financial perspectives covering the period 2007-2013.