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Press release14 March 2022Representation in Cyprus

Brexit Adjustment Reserve: Commission approves €2 billion of pre-financing for 12 Member States

The Commission has approved the disbursement of more than €2 billion under the Brexit Adjustment Reserve to a group of 12 Member States.

Press conference by Elisa Ferreira, European Commissioner, on Commission support for Member States’ reforms

This decision will make available a total of €819.2 million by the end of March 2022 and the rest by April 2023. This funding will help the economies of the Member States in mitigating the adverse impact of Brexit on their economies and regions, through support to regions and economic sectors, small and medium sized companies as well as job creation and protection, such as short-time work schemes, re-skilling, and training.

Commissioner for Cohesion and Reforms, Elisa Ferreira, said: “Brexit has had a negative impact on many people's lives within the EU. The Brexit Adjustment Reserve was set up and adopted in record time to help Member States mitigate the adverse economic, social and territorial consequences of Brexit. Now it is up to Member States to make the best use of the available funding to support regions, local communities, citizens and small and medium businesses to diversify their activities, keep jobs and reskill the workforce where necessary.

The pre-financing instalment under the Brexit Adjustment Reserve will be allocated to the following Member States:

Member State

Annual pre-financing amounts based on the provisional allocation to Member States,

in EUR/current prices (rounded)

2021

2022

2023

Belgium

119 986 195

91 789 457

93 625 219

Estonia

2 053 378

1 570 835

1 602 251

Spain

84 563 081

64 690 770

65 984 566

France

228 303 007

174 651 835

178 144 821

Croatia

2 231 823

1 707 345

1 741 491

Latvia

3 397 565

2 599 138

2 651 120

Malta

13 756 900

10 524 031

10 734 508

Netherlands

275 097 478

210 449 612

214 658 542

Austria

8 601 197

6 579 917

6 711 514

Portugal

25 252 296

19 318 010

19 704 365

Romania

13 396 968

10 248 682

10 453 653

Sweden

42 657 129

32 632 710

33 285 355

Total

819 297 017

626 726 342

639 297 405

The Member States may use the funding until 31 December 2023 to cover expenses incurred and paid since 1 January 2020.

Next steps

The Commission stands ready to quickly process the Brexit Adjustment Reserve decisions for the remaining Member States, to ensure they can receive support from the Reserve and it calls on the remaining Member States to notify the Commission without delay pursuant to Article 14(1)d of the Brexit Adjustment Reserve Regulation.

Background

Brexit has a negative impact on all Member States, but in different ways, as some Member States, regions, sectors, or local communities are more affected than others. The Brexit Adjustment Reserve of €5.4 billion has been put in place to support all Member States with a strong focus on those most affected. The financial contribution from the reserve to a Member State will be implemented under shared management. It does not need advanced programming or planning of measures and provides flexibility in the implementation in line with the subsidiarity principle. The Regulation establishing the reserve entered into force on 6 October 2021.

Ireland and Italy were the first Member States for which funding from the Brexit Adjustment Reserve was disbursed, in December 2021. By the end of March 2022, 14 Member States will have received their first instalments of their pre-financing.

For More information

More about the Brexit Adjustment Reserve

Brexit Adjustment Reserve Regulation

Details

Publication date
14 March 2022
Author
Representation in Cyprus