EU clears 100 million euro French aid for Brexit-hit fisheries sector

BRUSSELS (Reuters) - EU state aid regulators approved on Friday 100 million euros ($120.6 million) in French aid for the country's fisheries sector hit by Britain's withdrawal from the bloc and the subsequent cut in France's fishing quota.

The state support is available via three schemes. One will partially compensate vessels forced to remain idle due to the quota reductions or barred from accessing UK waters or other third country waters due to Brexit. It will run from January to June and may be extended until the end of this year.

The second scheme will compensate part of the loss of revenues suffered by the French fishing fleet while the third scheme targets French fishmongers.

"The fisheries sector is one of the most affected by Brexit, requiring fishermen and downstream market operators in affected member states to re-organise and adapt to the new situation," European Competition Commissioner Margrethe Vestager said in a statement.

($1 = 0.8295 euros)

(Reporting by Foo Yun Chee)