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Brexit Adjustment Reserve: Commission approves €116 million pre-financing for Italy

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The European Commission has adopted the decision to allocate funding from the Brexit Adjustment Reserve to Italy, for a total of €116 million. Italy is the second country after Ireland to obtain funding to compensate the consequences of Brexit and will receive €45.55m in 2021, €34.85m in 2022 and €35.55m in 2023. Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “Brexit has had a negative consequences for many people in the EU. The Brexit Adjustment Reserve stands for solidarity with those most affected. With this, EU offers a helping hand to all the member states, as we do not want to leave anyone behind. With this pre-financing, over the next years Italy can use the funding to mitigate the negative impact and better the lives of people and support local communities.”

Italy can use the funding to cover expenses since 1 January 2020 to mitigate the related negative impact of Brexit to support its regions and economic sectors, including on job creation and protection, such as short-time work schemes, re-skilling, and training. 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.

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