Brussels, 26/02/2003 (Agence Europe) - Adopting Draft Amending Budget No. 1 for 2003 on Wednesday, the European Commission proposes to provide additional funding of EUR 32 million in commitment credits for scrapping fishing vessels in 2003-2006 (see Europe of 25 February 2003, p.12). The Commission suggests using the flexibility instrument for the additional funding since the additional funds would exceed the ceiling laid down in the Financial Perspective for structural measures in 2003. This aid for scrapping fishing vessels is an important part of the comprehensive reform of the Common Fisheries Policy adopted by the Council in December 2002. Draft Amending Budget No. 1 needs to be examined and endorsed by the other two wings of the Budget Authority (Council and Parliament).