European Movement Ireland welcomes announcement of allocation of over €1 billion to Ireland as part of EU’s Brexit Adjustment Reserve

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Dublin, 13 January 2020:  Responding to yesterday’s announcement from the Irish Government and the European Commission, that Ireland is to be allocated €1.051 billion from the EU’s Brexit Adjustment Reserve, set up to help Member States most affected by Brexit, Noelle O Connell, CEO of EM Ireland commented,

“The fact that Ireland will receive 25%, under this proposal, from the overall Reserve of €5.4 billion demonstrates the strong support and solidarity from the EU towards the adverse economic challenges that Ireland faces as a result of Brexit.”

The proposal for the Brexit Adjustment Reserve will be brought before the Council of the EU and the European Parliament for their adoption. The majority of the Brexit Adjustment Reserve fund, €4.2 billion, will be released in 2021, while the remaining €1.1 billion will be released in 2024.