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Ireland receives nearly €1 billion from Brexit Adjustment Fund

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The European Commission has adopted a decision to allocate nearly €1 billion funding from the Brexit Adjustment Reserve to Ireland. Ireland will be the largest beneficiary of the fund. 

The Brexit Adjustment Reserve of €5.4 billion was put in place to support all those EU states most affected by the European Union’s decision to leave the EU. The financial contribution does not require advanced programming or planning of measures.

Ireland is the biggest beneficiary of the Brexit Adjustment Reserve and the first state to receive its pre-financing. This funding will help Ireland's economy in mitigating the impact of Brexit.

Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “Brexit has had a negative impact on many people's lives. Within the EU, it is the people in Ireland who feel it the most. The EU's Brexit Adjustment Reserve stands for solidarity with those most affected. In moving forward, we don't want to leave anyone behind. The funding that Ireland will receive will contribute to improve living standards, support economic growth in the country and mitigate the negative impacts in local communities.” 

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Ireland will receive €361.5 million in 2021, €276.7 million in 2022 and €282.2 million in 2023. The funding can cover expenses since 1 January 2020. 

Commission spokesperson Vivian Loonela said that support will include support to the most hit regions and economic sectors, including on job creation and protection, such as short-time work schemes, re-skilling, and training.

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