PUTTING THE FUNDING TO WORK
How the Funding Works
In the past, financial barriers have prevented some First Nations community members from fully participating in commercial fisheries.
Creating a successful commercial fishing operation requires investment capital to purchase or retrofit fishing vessels, equipment and tools. Until recently, these upfront costs have been a major obstacle for many aspiring fishers in coastal communities.
The Fisheries Resources Reconciliation Agreement was created to right this wrong through dedicated funding that will expand community-based commercial fishing access in traditional territories. The funding increases and improves access to commercial and community-based fishing opportunities for community members of coastal First Nations: Haida, Heiltsuk, Kitasoo Xai’xais, Metlakatla, Nuxalk, Wuikinuxv, Gitga’at and Gitxaala.
HOW THE FUNDING WORKS
Supporting Coastal Fishers
FRRA-based funding is held in a financial trust, and used to acquire commercial licences from willing sellers or through DFO buyback or relinquishment programs. Increased access to new licenses and quotas will come from either the open marketplace, existing licenses that are currently held by retired or soon-to-retire fishers and operators, or from other sources.
This financial support will help CNF shareholder Nations invest in new gear, vessels, and licences and will provide capacity to improve local fisheries operations and infrastructure, encouraging greater flexibility for participation in a wide range of options within the fisheries sector.
Fishing is more than just a job—it’s a way of life. Fishing is also a skill that can take years to master. Everything from tracking schools of fish to equipment repair, maintenance, and safety must be learned and practiced. CNF, through collaboration with other industry participants, is hoping to develop an approach to providing training and mentorship opportunities to the members of the CNF shareholder Nations.
