Canada and Atlantic Provinces Renew Fisheries Fund With Over $300 Million Investment
The Government of Canada and four Atlantic provinces announced a five-year renewal of the Atlantic Fisheries Fund on October 15, 2026, investing over $300 million to support the region's fish and seafood sector with a new focus on market diversification.
On October 15, 2026, the Government of Canada and the four Atlantic provinces announced a five-year renewal of the Atlantic Fisheries Fund (AFF), committing more than $300 million to support the region's fish and seafood sector. The announcement was made in Moncton, New Brunswick, by Federal Fisheries Minister Joanne Thompson alongside provincial ministers from Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
Under the renewed agreement, the federal government will provide 60% of the funding, while the Atlantic provinces will contribute the remaining 40%. Applications for the fund began accepting on the day of the announcement.
The renewed AFF is structured around four pillars: Innovation, Infrastructure, Science Partnerships, and a newly introduced Market Diversification pillar. Referred to as AFF 2.0 by Nova Scotia officials, the updated fund aims to help businesses reach new global markets, adopt sustainable technologies, and improve resilience against trade disruptions. The new Market Diversification pillar focuses specifically on export advertising, market analysis, branding, and regulatory research to increase resilience to global trade disruptions.
Nova Scotia will receive access to $94.8 million under the new fund, comprising $56.9 million from the federal government and $37.9 million from the province. Over the last decade, the AFF supported 365 projects in Nova Scotia worth more than $215 million.
The original Atlantic Fisheries Fund launched in 2017 and operated until March 31, 2026. During that period, it funded 1,331 projects across the Atlantic Region with an investment of over $370 million.