APPENDIX IV APPENDIX IV 
foreign markets for the country's fishery products and in co- 
operating in international efforts to secure the conservation 
and management of important resources to the Danish fishing 
INGUSiEGy > 
Denmark participates in fishery commissions such as the 
Northeast Atlantic Fisheries Commission (NEAFC) and the Inter- 
national Commission for Northwest Atlantic Fisheries which ap- 
prove total allowable catch quotas for fish stocks and fishing 
areas. The Danish government abides by the commissions' recom- 
mendations. 
The Ministry of Fishing is small compared to other gov- 
ernment ministries and has an annual budget of about $6.8 
million. It employs between 200 and 300 people. About 60 of 
these are located in Copenhagen handling policy and adminis- 
trative functions and about 110 are involved with such tasks 
as fishery inspections, quota handling, and fish distribution. 
A considerable amount of scientific and technical re- 
search is carried out under the auspices of the Ministry of 
Fisheries. Marine biological investigations are concentrated 
principally on waters exploited by Danish fishermen (the 
North Sea and the Baltic). Investigations on the state of 
the stocks, the growth, as well as the hydrographical and 
physiological conditions are undertaken regularly. Two re- 
search vessels are permanently engaged in such pursuits and 
there is a land-based research laboratory. Research is also 
directed towards the technology of processing fish for human 
and animal consumption, and costs and earnings investigations 
are regularly undertaken in all sectors of the fishing fleet. 
Government assistance 
The Danes are not eligible to benefit from EEC industrial 
project grants under the existing forms of EEC structural aid. 
Indirect Danish subsidies do exist in the form of 
government-supported bank loans. Bonds are sold on the open 
market to create funds to be loaned by banks to certain sec- 
tors of the fishing industry at better than normal rates. 
During the financial year 1973-74, the Royal Danish 
Fishery Bank granted loans totaling about $16 million chiefly 
for construction of new fishing vessels. These loans are not 
paid in cash but in State guaranteed bonds. The 1974 rate of 
exchange of these bonds was 9 percent and the repayment per- 
iedjis,itrom 10 toy 15.years. Firteen percent’ orethne Snd-use 
costs are to be covered by the borrower. 
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