Lithuanian Minister of Agriculture said that the new fund of EUR 6.396 billion was part of the Multiannual Financial Framework.
"This is a very important agreement for the future of the European fisheries sector. Being a part of the Multiannual Financial Framework, the new fund with the envisaged sum of 6.396 billion euro will be the most important instrument to finance the reformed Common Fisheries Policy in 2014–2020 and to develop the EU’s Integrated Maritime Policy," Jukna was quoted as saying in a statement.
According to the statement, member states agreed on budgetary resources to be allocated for different measures of the EMFF and on a set of criteria for the distribution of the funding among member states.
A general approach reached during the Council will enable the Lithuanian presidency to negotiate with the European Parliament as soon as the Parliament votes during a plenary session on amendments and is prepared to engage in talks.
Jukna pledged to "make every endeavor to ensure that the entry into force date is 1 January 2014."