The Minister for Foreign Affairs, Simon Coveney, T.D., and Minister of State for European Affairs, Thomas Byrne, T.D welcomed the announcement today (17 July) that the Council of the EU and the European Parliament reached agreement on the €5 billion Brexit Adjustment Reserve.
In recognition of being the Member State most impacted by Brexit, Ireland will receive more than €1 billion from the Adjustment Reserve, the largest allocation to any Member State.
Welcoming the announcement, Minister Coveney commented that
“The allocation of just over €1 billion to Ireland from the Brexit Adjustment Reserve reflects the continued high level of solidarity for Ireland from across the EU. Brexit has had a unique and disproportionate impact on our economy. This allocation will build on the substantial Government supports already in place for operators affected by Brexit. We will ensure this EU funding flows to the traders and sectors where it is needed most, including those in our fishing sector.”