The subsidies are extended under Measure 1.1 Public Aid for Termination of Fishing Activities, of Operational Program Fisheries Sector Development.
The owners have signed contracts to sell the scrapped vessels to a licensed ferrous and non-ferrous metal dealer. The ships were used for industrial fishing in the Black Sea.
The exact amount of the aid adds up to BGN 362 442.
Measure 1.1 is compensatory and is financed by the European Fisheries Fund and the national budget in an 85:15 ratio. The subsidy accounts for up to 100% of the approved investment.