According to the European Commission the fund has a total eligible public expenditure of the programme amounts to € 66,355,603, with EU assistance through the European Fisheries Fund (EFF) amounting to € 42,266,603. It is said that the purpose and aim of the EU investment is develop beneficial programme for Ireland from EU support. During 2000-2006, Ireland benefited from EU support under the Financial Instrument for Fisheries Guidance of € 70 million. By the end of 2006, a total of 850 projects had been supported, mainly for the decommissioning of fishing vessels, and for investments in aquaculture.
The Commission states that the new EU programme for 2007-2013 builds on the success of the previous programme by further consolidating the framework for a viable fisheries sector that respects the environment and supports vulnerable coastal fishing communities. In order to achieve this, the Operational programme is built upon 3 priority axes, out of the five axes foreseen under the EFF.
There are four priority axes such as adaptation of the EU fishing fleet, aquaculture, inland fishing, processing and marketing of fishery products, measures of common interest and sustainable development of fisheries areas. The main purpose of these axes is to make fishing sustainable, particular by creating a framework for the fleet that can secure its existence and future. These axes support measures of common interest which help to meet the objectives of the Common Fisheries Policy. And it aims at contributing to the sustainable development and improvement of the quality of life in fisheries areas by maintaining and creating jobs and improving the quality of the coastal environment.
