FIPA was created by the General Law of Fisheries and Aquaculture in 1991. It is aimed at funding research, which is necessary to support the adoption of fisheries management measures and aquaculture activities.
The Fisheries and Aquaculture Research Fund (FIPA) is intended to finance studies necessary to support the adoption of management measures of fisheries and aquaculture activities.
Origin and Objective
The General Law On Fisheries and Aquaculture creates the Fisheries and Aquaculture Research Fund, FIPA (Title VII paragraph 2 Article 93), under the Ministry of Economy, Development and Tourism. The function of FIPA is to finance fisheries and aquaculture research projects, needed for the adoption of the management measures of fisheries and aquaculture activities
Financing of FIPA
FIPA is financed through financial resources set out annually in the National Budget Law, among other contributions.
Administration of FIPA
The Fisheries and Aquaculture Research Fund is administrated by the Fisheries and Aquaculture Research Council. It also has an Executive Director, responsible for materializing the decisions of the Council and informing it about the Fund situation.