Denmark dedicates €200M of its European funds to improve aquaculture sector

European Union EU and danish flag for Denmark on a pole waving in the wind with a blue sky on a sunny day as background
European Union EU and danish flag for Denmark on a pole waving in the wind with a blue sky on a sunny day as background

Denmark will dedicate €200 million of its European Maritime Fisheries and Aquaculture Fund (EMFAF) to improve resource efficiency and competitiveness of its small and medium-sized businesses (SMEs) in the aquaculture sector. Also, to the protection and restoration of biodiversity, through innovation and development of selective fishing gear and river restoration.

European Comission

The Commission Partnership Agreement with Denmark consists of an €808 million cohesion policy investment strategy for the period 2021-2027. Thereby, Denmark will promote economic, social, and territorial cohesion. It will focus on key EU priorities such as the green and digital transition. The funds will also contribute to the country's competitive, innovative and sustainable growth.

A green economy as a purpose

In addition, €247 million under the European Regional and Development Fund (ERDF) will help Danish SMEs improve their research and innovation capacity. Besides, it will adopt advanced technologies, supporting its growth, competitiveness, and internationalization.

Moreover, the ERDF will promote the circular economy in enterprises that focus on reducing waste and improving resource efficiency. Through investments in new businesses and start-ups, entrepreneurship and innovation will also receive a boost

On the other side, €89 million from the Just Transition Fund (JTF) will be used to adopt a low-carbon economy. Consequently, Denmark plans to address the socio-economic impact of this transition on the entire local value chain. This includes SMEs' development, testing, and demonstration of circular economy solutions, and the development of new technologies for clean energy and emission reduction.

Finally, €120 million from the European Social Fund Plus (ESF+) will promote a more inclusive labor market and a skilled workforce. The aim is to secure that people receive and complete their vocational training. Also, their higher education to match the labor market and business needs.

Regarding all this, Commissioner for Environment, Oceans, and Fisheries, Virginijus Sinkevičius, said: "Europe's blue economy plays a crucial role in decarbonizing our economy. This Partnership Agreement will allow Denmark to build a resilient, sustainable, and low-carbon fisheries and aquaculture sector. Further, to develop its aquatic environment and resources sustainably of the fishery and aquaculture sector."

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