17 Jun: Deal reached on EU fund to help regions and businesses adapt to Brexit

(Source: European Parliament)

Support focused on countries, regions and sectors worst affected by BrexitFunds will cover investments made from 1 January 2020 to 31 December 2023Specific commitment to help fisheries and local and regional coastal communities

EU legislators reached a political agreement on Thursday on the 5 billion euro Brexit Adjustment Reserve, paving the way for a first payment by December.

With a budget of 5 billion euro (in 2018 prices – 5.4 billion euro in current prices), the Brexit Adjustment Reserve (BAR) will focus on countries and sectors worst affected by the UK’s withdrawal from the EU.

A first …

17 Jun: Preliminary deal on €5 billion fund to mitigate the effects of Brexit

(Source: Council of he EU)

A five-billion-euro fund to overcome the consequences of the UK’s withdrawal came a big step closer to adoption today after the Council and the European Parliament reached a preliminary agreement on the draft regulation.

The deal means that funding from the Brexit adjustment reserve can begin to be disbursed before the end of the year.

The reserve is designed to support all member states, while focusing on the most affected regions and sectors.

Today’s agreement sends a strong signal that European sectors, companies and workers who stand to lose as a result of Brexit will …

09 Jun: Brexit Adjustment Reserve: MEPs want swift disbursement of €5 billion fund

(Source: European Parliament)

Support focused on countries and sectors worst affected by BrexitEligibility period covers investments made from 1 July 2019 to 31 December 2023Banking and financial sectors are excluded from supportSpecific commitment to fisheries and communities dependent on UK waters

Parliament is now ready to negotiate with Council the details of the fund to help EU countries to counter the adverse consequences of the UK’s withdrawal.

Parliament adopted on Wednesday its position regarding the €5 billion Brexit Adjustment Reserve (in 2018 prices – €5.4 billion in current prices). Talks with the Council will start on 9 June and MEPs …