EFA welcomes €5 billion Brexit Adjustment Reserve

After months of negotiations, the European Parliament has given the green light for a €5 billion fund to help regions worst affected by Brexit.

EFA MEP François Alfonsi, who participated in the negotiations, has welcomed the fund as significant boost for Europe’s hardest hit regions, and affected activities.

Significant funding will be available to help the fisheries sector and border maritime regions.

Funds will also support affected businesses, citizens and communities in the areas most affected.

François Alfonsi said:

“This funding to help the activities and territories most affected by the consequences of Brexit is to be welcomed. And during the negotiations we have been able to achieve some essential goals.

“Firstly, we’ve been able to reserve a significant amount for fisheries related activities. This is very important for the maritime areas that are concerned, including for fisheries preservation and defending the coastal fishing industry.

“Secondly, we’ve been able to focus efforts on border maritime regions and on those activities which have been hardest hit. This sends a message of European unity and solidarity to those regions and territories that will suffer increasingly due to Brexit, beginning with Ireland.

“The consequences of Brexit risk reaching a crescendo as the negative effects accumulate. That’s why we need to show solidarity in order to help those worst affected. The crucial question of the Northern Ireland protocol foreseen by the treaty must be resolved. For that we need to show our solidarity and determination. Putting in place the Brexit Adjustment Reserve is an important part of that.”