Oireachtas Joint and Select Committees
Tuesday, 17 June 2025
Committee on Fisheries and Maritime Affairs
The Business of Seafood Report 2024: Bord Iascaigh Mhara
2:00 am
Ms Caroline Bocquel:
The total national fund is €238 million. Of that, 65% is earmarked for external grant aid to industry. Part of what our Department is focused on is ensuring that as much of that allocation as possible translates into the annual budgetary allocation. Despite having received a commitment for an allocation, there is still work to be done to ensure that comes into our annual budgetary cycle. All we, in BIM, have visibility on is the budget that we have. We are working towards the budget for next year. We are expecting that we will have something in the region of €5 million available. In the context that it was previously €1.5 million a year, this is a significant uplift and we expect it to be fully subscribed. There is a lot of ambition in the sector. There are a lot of good financial foundations in these companies. As part of the process, we make sure that the companies are able to execute this funding and it is going to deliver economic benefit to them. We are expecting a €5 million allocation in that fund for 2026.