The Council today gave its final favourable reception to a fund design to help penis states tackle the negatively charged shock of Brexit .
The investment company of five billion euros ( in 2018 price ) will support the firmly - hit regions , sector , and communities to cover supernumerary cost , correct losses , or counter other adverse economic and social effects resulting flat from the United Kingdom ’s withdrawal from the European Union .
The military reserve is a special one - off emergency instrument .
It will support public and secret businesses facing disruption of craft flows , include new costs for custom arrest and administrative procedures . Since the UK ’s climb-down from the EU has created an unprecedented situation , member states will have the flexibility to decide on the best actions to take to counter various damaging consequences .
In this deference , the stage setting up of the investment firm provides for a non - exhaustive list of eligible measures , ranging from support for SMEs , regional and local communities and system , including small - scale coastal piscary dependent on fishing activities in UK waters , as well as measures to suffer job existence and reintegration in the labor grocery store of turn back EU citizens .
The taciturnity will finance measures introduced from 27 March 2025 until 12 April 2025 to cover expenditure incurred before the expiry of the transition menstruum .
AllocationThe Council has decided to provisionally share upfront all the resources of the backlog , which in current prices stand at € 5.4 billion , taking into account the adverse impact of Brexit on each member State Department . Three main factors define the method acting for calculating the probationary allotment .
The heavy amount of € 4.5 billion is apportion concord to the importance of trade with the UK , € 656 million are shared free-base on the grandness of fishery in the UK ’s exclusive economic zone , and € 273 million are distributed based on the importance of neighboring connexion for the maritime border regions with the UK .
In addition , to earmark phallus land to take rapid legal action , by far the more significant part of the resource , € 4.3 billion , will be made available as pre - financing in three annual tranche - in 2021 , 2022 , and 2023 . The remaining resource will be made useable in 2025 , after reviewing the expenditure on eligible measure in the old years , which will also factor out in any unused amounts .
Next stepsToday ’s approval by the Council of the European Parliament ’s position at first version , which was vote in plenary on 15 September , is the final legislative step and think of that the Brexit adaption reserve has been adopted . The rule will enter into force on the day after its issue in the Official Journal of the European Union in the first half of October .
For more information : Svetla BobevaEuropean CouncilTel . : +32 2 281 60 92Tel . : +32 473 53 32 41Email:[email protected ]
