The European Fisheries Fund (EFF) programme succeeds the Financial Instrument for Fisheries Guidance (FIFG), which closed to new applications in 2007.
The EFF programme, like FIFG, will be targeted to assist with capital investment in the aquaculture, fishing and fish processing industries. The programme can also support strategic trade initiatives, fisheries dependent communities and Scottish Government and European Community policy initiatives for the sustainable development of fisheries.
Scotland has secured the lion's share of the UK's EFF allocation, approximately £12 million for the Highlands and Islands and around £26 million for the rest of Scotland.
Eligible applicants will include individuals, companies, trade and public bodies that have a direct interest in commercial fisheries.