Did you know that Ireland has been allocated over €920 million from the Brexit Adjustment Reserve?
Brexit has a negative impact on all Member States, but in different ways. Some Member States, regions, sectors, or local communities are more affected than others. The Brexit Adjustment Reserve (BAR) of €5.4 billion has been put in place to support all Member States while ensuring a strong concentration 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 BAR will support measures specifically set up in relation to the withdrawal of the UK from the Union. They can include the following:
Ireland is the biggest beneficiary of the Brexit Adjustment Reserve with a total allocation of €920.4 million. This funding will help Ireland’s economy in mitigating the impact of Brexit, through support to regions and economic sectors, including job creation and protection, such as short-time work schemes, re-skilling, and training.
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