Canada renews the Atlantic Fisheries Fund for five years at more than $300 million

Canada is extending the Atlantic Fisheries Fund. On Oct. 15, 2026, in Moncton, New Brunswick, Fisheries Minister Joanne Thompson announced a five-year renewal with the Atlantic provinces. Nova Scotia’s Kent Smith, New Brunswick’s Pat Finnigan, Prince Edward Island’s Ernie Hudson, and Newfoundland and Labrador’s Loyola O’Driscoll joined the announcement.

The renewed fund is more than $300 million over five years for projects in the Atlantic region. Ottawa’s share is 60 percent and the provinces’ share is 40 percent. Eligible projects have to fit one of four pillars: market diversification, innovation, infrastructure, and science partnerships. Market diversification is new. It covers export advertising, market analysis, industry branding, and research on market-access rules such as regulatory standards. Innovation is research and networks aimed at productivity and sustainability. Infrastructure is new technology, processes, or equipment. Science partnerships pair industry with universities and institutions on changing ocean conditions and sustainable harvest technology. Projects that qualified under the old fund still qualify. Applications opened the day of the announcement.

The first Atlantic Fisheries Fund started in 2017 and ran nine years, with more than $370 million split 70 percent federal and 30 percent provincial. From the start through March 31, 2026, it funded 1,331 projects. Fisheries and Oceans Canada says those included processing, freezing, packing, and shipping work, climate-impact research, plant upgrades, and vessel changes for holding lobsters live. Staff can be reached at 1-844-795-9718.

This is a The Gillnet news desk summary, not a reprint.

Source: Fisheries and Oceans Canada — Atlantic Fisheries Fund renewal (Oct. 15, 2026, Moncton).