Brexit Adjustment Reserve
The Brexit Adjustment Reserve aims to help Member States and sectors worst affected by Brexit to counter the adverse economic and social consequences of Brexit.
Overall, the initial allocation to the EU27 is valued at €5.4bin in current prices with further funding of €1.1bn in current prices in 2024.
Ireland is the biggest beneficiary and the first Member State to receive pre-financing to help mitigate the impact of Brexit on the Irish economy. Ireland's allocation is €361.5m in 2021, €276.7m in 2022 and €282.2m in 2023. The funding can cover expenses directly relating to Brexit since 1 January 2020.
The Reserve can support actions related to economic sectors, businesses and local communities, including those dependent on fishing in UK waters, employment, including short-time work schemes, re-skilling and training, and ensuring the functioning of border, customs, sanitary and phytosanitary and security controls, fisheries controls, certification and authorisation regimes for products, communication, information and awareness raising for citizens and businesses.
Further information: Brexit Adjustment Fund.