Fishermen can access assistance of €202,400 for the purchase of the first fishing vessel, according to a statement from the Agricultural Support Service (LAD) in the official publication "Latvijas vēstnesis."
The second round of support measures has been announced under the European Maritime, Fisheries and Aquaculture Fund of the European Union and the Fisheries Development Program for 2021-2027 as part of the "First Purchase of a Fishing Vessel" initiative.
The application period for project proposals will run from February 9 to May 15, 2026.
LAD notes that the initiative will support the acquisition of partial ownership rights to fishing vessels registered in the EU or the first purchase of fishing vessels equipped for fishing activities and having a maximum length of no more than 24 meters. With their first purchased fishing vessel, the support recipient must ensure economic activity in the field of commercial fishing.
The project implementation period is two years from the date of entry into force of the LAD decision approving the project proposal.
Applications for participation in the project must be submitted through the LAD electronic application system.
LAD is a state institution under the supervision of the Ministry of Agriculture, which manages state and European support for rural areas, agriculture, forestry, and fisheries.
