Canada renews the Quebec Fisheries Fund with $50 million

Canadian Fisheries Minister Joanne Thompson and Quebec Minister of Agriculture, Fisheries and Food Donald Martel have announced the renewal of the Quebec Fisheries Fund (QFF), with a budget of $50 million over five years.

This initiative will help improve productivity and competitiveness by focusing on opening new markets and adapting to ecosystem changes. The QFF aims to strengthen the sustainable, long-term growth of Quebec's fish and seafood sector.

Projects benefiting from this funding must focus on innovation in productivity and competitiveness, the adoption of new infrastructure, improving adaptation to ecosystem changes, and the development and diversification of markets both within Canada and internationally.

This fund, which has delivered positive results over several years, has added market development and diversification as a new key pillar. According to the government, this responds to one of the sector's main demands: making the fishing industry more competitive and resilient.

Regarding this initiative, Thompson detailed: "By bringing harvesters and scientists together, the fund also helps those same businesses adapt and find new opportunities. That adds up to a stronger future for the people who harvest and process in Quebec, and for the communities that depend on the fishery."

The QFF was launched in 2019 and has already invested a total of $42.8 million. It has also funded 198 projects that have driven innovation in Quebec's fish and seafood sector while supporting its growth and ability to adapt.

"Fisheries and aquaculture play a vital role in the economy and development of our coastal regions. This agreement will provide businesses with the predictability they need to carry out their projects, improve their productivity, and develop new markets. It is concrete support that will foster the dynamic of our maritime communities, while helping to strengthen our food self-sufficiency," concluded Martel.