Greek Minister of Rural Development and Food Margaritis Schinas announced an EU agreement in Brussels to fund the renewal and modernisation of the country's fishing fleet.
The decision reached at the EU Agriculture and Fisheries Council opens European funding for fishing fleet investments for the first time in 12 years. According to a statement from the Ministry of Rural Development and Food, the move directly addresses Greek national priorities because the country operates one of the oldest fishing fleets in the European Union.
The support framework, established under the Common Fisheries Policy for the 2028 to 2034 period, covers investments in existing vessels and extends to acquiring new boats through either construction or purchase. Officials stated that the ultimate goal of the programme is to build a younger, safer, and more modern fleet.
Greece maintains the largest total number of fishing vessels in the European Union, though many of its small wooden craft have been in service for decades. Schinas previously served as Vice-President of the European Commission before taking up his cabinet position in Athens, where he pledged to secure European financial support during visits to major fish markets in Keratsini near Piraeus and Michaniona near Thessaloniki.
Funding rules and environmental standards
Under the terms of the agreement, financial support can be allocated under specific conditions to fleet segments facing capacity imbalances. Funding will remain available even in fisheries with overfished stocks, provided that necessary restoration measures are being implemented, without requiring that stock recovery be fully completed beforehand.
The framework includes specific provisions for small-scale coastal fishing, which forms a primary pillar of Greek fisheries and supports economic and social life across island and coastal communities. The agreement offers greater flexibility in capacity rules for existing small coastal vessels, making it easier for owners to invest in vessel upgrades and modernisation.
Investment opportunities are also expanded for cleaner, more efficient engines and propulsion systems. Capacity flexibility will be permitted when linked directly to investments that improve energy efficiency or reduce carbon dioxide emissions.
Regulatory alignment and future approval
The updated text links Common Fisheries Policy rules with the European Union's do no significant harm principle. Specific rules governing the fishing industry must be taken into account during implementation to ensure proportionality, strengthen legal certainty, and avoid duplicate assessment requirements, while ensuring support terms do not increase administrative burdens on small and medium-sized enterprises.
Speaking after the conclusion of the council meeting in Brussels, Schinas said the agreement represented a significant success for Greek national interests. He explained that ministers agreed in principle on the new Fisheries Regulation covering the six-year period from 2028 to 2034.
Schinas said the deal opens the door for the first time to modernise the fleet and support small coastal fisheries, which he described as the backbone of the national fishing sector. He added that the decision allows support for young people and island communities that need revitalisation while helping Europe's oldest fleet.
Reflecting on his previous commitments to Greek fishermen at Keratsini and Michaniona, Schinas expressed pride that his promises had been fulfilled. He noted that while a major start had been made, further discussions and negotiations with the European Parliament must take place before final implementation.
