Interesting story from Normandy in France. How the region itself is helping new investment in the fishing industry. A really innovative collaboration between French banks and others. Cornwall, with its vibrant fishing and thriving tourism industry; which consumes a good proportion of fish caught locally during the holiday seasons, take note!
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| Hervé Morin, Président de la Région Normandie, a visité lundi 14 novembre 2022, à Port-en-Bessin (Calvados), le navire hauturier Vauban acquis par Wilfried Roberge via le Fonds Normandie Littoral. - Crédit photo Biernacki/Région Normandie |
Hervé Morin, President of the Normandy Region, visited Monday, November 14, 2022, in Port-en-Bessin (Calvados) , the offshore vessel Vauban acquired by Wilfried Roberge via the Normandy Littoral Fund. The Normandie Littoral fund, dedicated to supporting the Normandy maritime economy, facilitates and accelerates investment opportunities for professional players in the maritime, coastal and river sectors.
There are 585 fishing vessels in Normandy.
As the second largest fishing region, the Normandy region now has 585 fishing vessels, 2% of which are offshore vessels. The Normandy offshore fleet represents a significant proportion of landings in Normandy auctions. Maintaining them is therefore a major challenge for the balance of the Normandy fishing industry. From skipper-employee to owner of his fishing boat for more than 20 years, Wilfried Roberge has been operating the Vauban as skipper-employee since 2019. The latter was able to prepare his acquisition project in the best conditions, build a crew of 7 sailors, and operate the vessel thanks to the intervention of Normandie Littoral, which took a capital stake in Mr. Roberge's fishing company.
The Normandie Littoral fund was created in 2020 on the initiative of Normandie Participations, the investment fund of the Normandy Region. Four regional players have joined forces with Normandie Littoral: Banque Populaire Grand Ouest Crédit maritime, Caisse d'Epargne Normandie, Groupama Center Manche, Banque Populaire du Nord Crédit Maritime. This fund allows investments related to blue growth, and intervenes at all stages of financing: innovation capital, development capital, transmission capital. 70 investment files have already been studied by the Normandie Littoral fund.
4 files were presented, for 3 investments made, representing a total of more than 1.02 million euros :
Normandie Littoral's objective is to allow the realization of 3 to 4 projects per year, in order to reach a minimum of 15 participations by 2026
As the second largest fishing region, the Normandy region now has 585 fishing vessels, 2% of which are offshore vessels. The Normandy offshore fleet represents a significant proportion of landings in Normandy auctions. Maintaining them is therefore a major challenge for the balance of the Normandy fishing industry. From skipper-employee to owner of his fishing boat for more than 20 years, Wilfried Roberge has been operating the Vauban as skipper-employee since 2019. The latter was able to prepare his acquisition project in the best conditions, build a crew of 7 sailors, and operate the vessel thanks to the intervention of Normandie Littoral, which took a capital stake in Mr. Roberge's fishing company.
The Normandie Littoral fund was created in 2020 on the initiative of Normandie Participations, the investment fund of the Normandy Region. Four regional players have joined forces with Normandie Littoral: Banque Populaire Grand Ouest Crédit maritime, Caisse d'Epargne Normandie, Groupama Center Manche, Banque Populaire du Nord Crédit Maritime. This fund allows investments related to blue growth, and intervenes at all stages of financing: innovation capital, development capital, transmission capital. 70 investment files have already been studied by the Normandie Littoral fund.
4 files were presented, for 3 investments made, representing a total of more than 1.02 million euros :
- construction of a trawler/shellfisher to be carried out by a Norman shipyard in Dieppe
- acquisition of a boat offshore in Port-en-Bessin
- support for a start-up in the development and industrialization of a propellerless electric motor which will be manufactured in Normandy in Le Havre.
Normandie Littoral's objective is to allow the realization of 3 to 4 projects per year, in order to reach a minimum of 15 participations by 2026
. fishing bosses to acquire their first vessel.
This fund is a springboard for acquiring a vessel. After this boost, the Region is withdrawing and intends to help other fishermen. In addition, the Region is still very active in resolving the issue of fishing licenses with the Channel Islands,” says Hervé Morin, President of the Normandy Region.