IRELAND AND ITALY RECEIVE POST-BREXIT FUNDING
The European Commission has decided to allocate funding from the Brexit Adjustment Reserve to Ireland, for a total of €920.4 million, and to Italy, for a total of €116 million. The funding will aim to compensate the consequences of Brexit and support EU Member States in the transition.
The funding can cover expenses since 1 January 2020 and will help Ireland's and Italy's economies in mitigating the impact of Brexit, through support to regions and economic sectors, including on job creation and protection, such as short-time work schemes, re-skilling, and training. Ireland is the biggest beneficiary of the Brexit Adjustment Reserve and will receive €361.5 million in 2021, €276.7 million in 2022 and €282.2 million in 2023.Italy will receive €45.55 million in 2021, €34.85 million in 2022 and €35.55 million in 2023.
The Brexit Adjustment Reserve of €5.4 billion has been put in place to support all Member States, while ensuring a strong concentration on those most affected. The Commission expects to adopt Brexit Adjustment Reserve decisions for the other Member States in the coming weeks.
Source: European Commission