
Latvian fishermen will be provided support in the amount of 500 thousands euros for modernization of the fishing fleet, reports agency LETA with link to the official publication “Latvijas Vēstnesis”.Support is available in the third round of the measure “Modernization of the Marine Fisheries and Aquaculture Fund (EMFAF) EU
and the Fisheries Development Program for 2021-2027 years. Applications for projects can be submitted from 6 February to 15 August 2025 year. The project implementation period is two years from the day of the entry into
effect of the decision of the Federal Government approval of the project application. The amounts of the fixed rate and maximum rate will be applied to
expenditures for the preparation of the project application and expenditures not directly related to the preparation and implementation of the project. Support is defined for expenses related to the preparation of the project application. If support is used for the purchase of fixed funds, a fixed rate of 1,5% will apply to expenditures of 150 001 euros, and the maximum amount of the
fixed rate will be 5000 euros. The Fixed Rate of 1.5% will apply to expenditures up to 150 150 000 Euros with the maximum amount of the Fixed Rate of 1500 Euros. If support is used for construction and construction of mixed type projects, the fixed rate of 0,5%
will apply to costs of 700 001 euros, and the maximum amount of the fixed rate will be 5650 euros. The fixed rate 1.5% will apply to expenditures up to 700 000 euros with the maximum fixed rate 4500 euros. For costs related to the preparation and implementationproject, it is determined that if the support will be used for modernization of fishing vessels and mixed projects with the acquisition of capital funds, the fixed rate will
apply at 2% to expenditures exceeding 700 000 euros, and the
maximum amount of the fixed rate will be 35 000 euros. But for expenditures up to 700 000 euros the fixed rate will apply at 3% with the maximum
amountofthefixedrate15000euros.ApplicationsforprojectsmustbesubmittedintotheelectronicapplicationsystemLAD.LAD-is agovernmentagencyunder thecontroloftheMinistry ofAgriculture,whichmanagesgovernmentandEuropeanUnion supportforruraldistricts,agriculture,forestryandfisheries.