Funding for Ireland’s fishing industry under the EU’s Common Fisheries Policy has more than doubled it was announced today.

Under the new CFP Ireland is to be allocated €148 million, compared to €70 million in the last round of funding.

Marine Minister Simon Coveney secured the €148 million from the EU fund for the period 2014 to 2020 for the development of the Irish seafood industry and the coastal communities that depend upon it.

“The new CFP is a major overhaul of the way which fishing is carried out in EU waters, the purpose of which is to provide a framework for the long term sustainability of fish stocks and the whole industry”, he said.

 “The fund will provide support for our fishing fleet to meet the challenges of the new discards ban; it will support the development of the seafood processing sector, a sustainable aquaculture industry and the communities that depend on a vibrant seafood industry,” he concluded.

Minister of State Dinny McGinley has welcomed the news and is certain that the many fishing communities of Donegal will benefit.

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