Europa: Preliminary deal on €5 billion fund to mitigate the effects of Brexit

Brussels, June 17, 2021.- A five-billion-euro fund to overcome the consequences of the UK’s withdrawal came a big step closer to adoption today after the Council and the European Parliament reached a preliminary agreement on the draft regulation.

The deal means that funding from the Brexit adjustment reserve can begin to be disbursed before the end of the year.

The reserve is designed to support all member states, while focusing on the most affected regions and sectors.

«Today’s agreement sends a strong signal that European sectors, companies and workers who stand to lose as a result of Brexit will receive urgent and timely support. We are taking swift action to help them deal with any adverse and unforeseen consequences.»
Augusto Santos Silva, Minister of State and Foreign Affairs of Portugal, Council presidency

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