Compensation for fisheries and aquaculture operators paid on October 15, announces Mário Rui Pinho - Communication

Secretaria Regional do Mar e das Pescas

The Regional Secretary for the Sea and Fisheries, Mário Rui Pinho, informs that, under the Compensation Scheme for Operators in the Fisheries and Aquaculture Sector for additional production costs arising from Russia's military aggression against Ukraine, support payments will be made on October 15 by the Financing Institute for Agriculture and Fisheries (IFAP).

Overall, 312 applications were submitted, with 267 being approved, including 262 from the production sector and five from the distribution and processing sector.

The aid granted amounts to €3.26 million, of which €2.28 million is co-financed by the European Maritime, Fisheries and Aquaculture Fund (EMFAF) and €980,000 allocated under the Regional Budget.

The support allocated includes €1.38 million for the production sector, €1.4 million for the distribution sector, and €401,000 for the processing sector.

The Regional Secretariat for the Sea and Fisheries emphasised that the fisheries and aquaculture sector is strategic for the Autonomous Region of the Azores, due to the added value of its products and its socio-economic impact on fishing communities.

In this regard, the Regional Government reiterates its commitment to providing support mechanisms to strengthen the sustainability, competitiveness and resilience of these sectors, thus honouring the commitment made to operators.