The European and Maritime Fisheries Fund (EMFF) has already benefited 142 projects between 2008 and 2015 in Fraserburgh alone and created 61 jobs.
Fisheries secretary Richard Lochhead highlighted the benefits of previous funding and reminded local fishermen they can still apply for a share of the 2016 fund as he visited Fraserburgh harbour.
The harbour received £10.6m from the fund for their harbour deepening project to improve operational efficiency and safety, and the mains power project to provide hook ups for vessels and additional capacity to harbour side processing businesses.
Lochhead said: “The fishing and aquaculture industries make a vital contribution, providing jobs and sustaining services, in many coastal communities around Scotland.
“The European and Maritime Fisheries Fund (EMFF) provides funding to support fishermen, sustainable aquaculture, the processing sector and the communities that depend on them.
“This £18m funding has enabled investment of nearly £30m in Fraserburgh making a real difference to the fishing industry locally.
“This investment has resulted in some fantastic projects including the recent grant for the harbour which has modernised operations here.
“I would strongly encourage groups in the fishing and aquaculture industries to apply for a share of money from the European and Maritime Fisheries Fund.”