Greece launches 16 million euro investment program for fishing vessels

The Greek Ministry of Rural Development and Food has announced a 16 million euro funding program under the ‘Fisheries, Aquaculture and Sea 2021-2027’ (PALYTH) initiative. The program, specifically Action 1.1.2, aims to support approximately 400 professional fishers and businesses by financing investments in fishing vessels that do not increase overall fishing capacity.

Funding rates vary based on vessel type and location. For small-scale coastal fishing vessels under 12 meters in length that do not use towed gear, public support reaches 80%, potentially rising to 85% for those operating in remote Greek islands. Inland fisheries, such as those in Western Macedonia, are also explicitly eligible, with an 80% funding rate for vessels under 12 meters without towed gear.

Eligible applicants include individual entrepreneurs and legal entities, including co-ownerships, who hold valid professional fishing licenses and have operated their vessels for at least 60 days within the two calendar years preceding the application. The deadline for submitting applications is September 15, 2026, at 15:00.