Procedures of Fiskraektarsjodur

Procedures 2024 for allocation 2025

I. About Fiskræktarsjóður

Fiskræktarsjóður operates on basis of the Act on Fiskræktarsjóður and is under the authority of the Minister of Food, Agriculture and Fisheries, according to article 1 of the Fiskræktarsjóður Act (with subsequent amendments).

The main role of the Fund is to provide loans and grants for projects that serve the objective of maintaining and promoting the biosphere of rivers and lakes, as well as increasing the value of fishing from them.

II. Who can receive a grant?

Grants from Fiskræktarsjóður are intended for fishing associations, individuals, research institutes and universities and other legal entities.

Fiskræktarsjóður requires that funding is available for the project or project component for which a grant is sought.

Grants are awarded for one year at a time. In case of a follow-up application a progress report is required to accompany the grant application.

III. Application deadline 1 st of March each year

Applications for loans and grants from Fiskræktarsjóður shall be sent to the board of the fund before 1st of March each year. Applications received after that time will not be considered.

Applications must be submitted on electronic form and paper applications are not accepted.

IV. Evaluation of applications

Fiskræktarsjóður is governed by a four-member board appointed by the Minister of Food, Agriculture and Fisheries for a four-year term. The board shall evaluate applications professionally, priorities projects and determine the amount of the grant.

When evaluating applications, emphasis is placed on innovativeness of research and implementation in order to best achieve the fund's goals. Candidates' ability to solve the project, knowledge, experience, facilities and feasibility of plans (work, cost and financing plan) are considered. Cooperation with professional partners is also considered when a decision is made on the granting of grants and whether the projects are in the overall interest.

Fiskræktarsjóður may obtain comments from the Directorate of Fisheries on applications for loans or grants if deemed necessary. Fiskræktarsjóður may also decide to pay allocations in stages depending on progress of projects.

V. Monitoring

Fiskræktarsjóður may request that the grant recipient demonstrate that the funding of the project is in accordance with the application before the grant is paid. Fiskræktarsjóður expects to follow up on projects it has supported.

The Board of the Fund can request that the grantees inform Fiskræktarsjóður in writing about the status of the projects. Fiskræktarsjóður has the right to demand reimbursement from the grantee if construction has not started within a year of the allocation.

VI. Allocation

Decisions on grants and loans from the Fund shall be taken by the board of the Fund. The provisions of the Administrative Procedures Act apply to cases involving the granting of loans and grants.

VII. Obligation of Fiskræktarsjóður to provide information

As this is a public fund, Fiskræktarsjóður provides information about allocated grants on the website of the Directorate of Fisheries. However, in general the information will be limited to information on the name of recipients, amount, name of the project and objectives. Other information in applications concerning financial or business interests of applicants and other legal entities that relate to projects under the auspices of Fiskræktarsjóður will, however, be treated as confidential.

VIII. Duration of validity

These Rules are issued in accordance with authorization of 1. paragraph. 8. article of the Fiskræktarsjóður Act (with subsequent amendments). and is valid for the 2025 allocation.