The European Commission adopted the Blue Growth Strategy in 2012 in order to harness the potential of Europe’s oceans, seas and coasts for growth and jobs. Since the adoption of the strategy, the Blue Economy has become a driver for Europe’s welfare and prosperity. Europe’s maritime economy is expected to become an even more significant source of jobs and growth in the years to come. However, despite concerted efforts by the European Union to increase funding for Blue Economy actors, access to funding with acceptable terms remains a key obstacle for innovative businesses.
Source: European Commission