Dinny McGinley
Question:96 Mr. McGinley asked the Minister for the Marine if he will give details of the financial assistance or any other help available to fishermen who wish to purchase new fishing vessels.
Written Answers. - Fishing Vessels Purchase Grants.
The basic framework governing financial assistance for the purchase of new fishing vessels is laid down in EC Regulations Nos. 4028/86 and 3944/90.
Within this framework and subject to a minimum national grant of 5 per cent, grants of up to 35 per cent may be available from the Community. However, the payment of such grants is subject to compliance by the member state with fleet targets laid down by the Commission. Generally speaking, the Commission has not approved in recent years any grants for constructions. Moreover, in current circumstances there would appear to be little prospect that such grants will be approved for Ireland in the short to medium term.
BIM may provide loans for the purchase of new boats. However, the limitation on the finance available from the Exchequer and the need to give greater priority to other programmes such as boat modernisations, often results in loans being sought from other lending institutions.