The federal government is putting up $65 million to help fishermen in Atlantic Canada and Quebec.

Federal Fisheries Minister Gail Shea made the announcement Wednesday morning in Tignish, P.E.I.

Lobster fishermen are suffering from the lowest prices in 20 years, and $15 million has been set aside specifically to help fishermen whose incomes have been drastically hit. That income support will be available this year only.

"The circumstances affecting the lobster industry are unique and lobster fishers had nothing to do with the collapse in lobster prices," Shea said in a news release.

"All they want is the chance to continue making an honest living doing the job they love."

The remaining $50 million will go toward sustainability measures. That money will be divided into two parts, with $15 million specifically targeted to areas where catches have been poor and $35 million for measures that would apply across the region.

The five-year sustainability plan would see fewer lobsters being harvested and fewer fishermen catching them. The plan is needed to meet eco-certification requirements. Retailers are beginning to demand that fisheries show through independent review that they are sustainable before the retailers will stock their product.

Fishermen at Shea's announcement were relieved that federal aid is on the way, but anxious to learn the details of how the money will be delivered. Those details will be worked out next week in Ottawa at a meeting between Shea and the five eastern provincial fisheries ministers.