agreement to set up the special fund, reached by Parliament and Council
negotiators in June, was adopted with 652 in favour, 32 against and 11
abstentions. €1.6 billion will be distributed in 2021. The remaining
€3.4 billion should follow in separate tranches of €1.2 billion in 2022
and 2023, followed by €1 billion in 2025 (in 2018 prices).
Which measures would qualify for support?
Measures that qualify for funding may
include, among others, support to businesses, local communities,
creating jobs or supporting EU citizens to re-integrate.
MEPs ensured that expenditure incurred
between 1 January 2020 and 31 December 2023 will be covered by the fund.
The Commission’s proposal limited the eligibility period to between 1
July 2020 and 31 December 2022.
Distribution of funds
According to the agreement, three
factors will be used to calculate how much money each EU country will
receive: the importance of trade with the UK, the importance of
fisheries in the UK exclusive economic zone and the population living in
maritime regions bordering the UK.
Ireland will be by far the largest
beneficiary in absolute terms (around €1 billion), followed by the
Netherlands (around €810 million), France (around €670 million), Germany
(around €590 million) and Belgium (around €350 million). The
provisional distribution is available here.
Member states that depend
significantly on fisheries will have to direct a specific percentage of
their national allocation to small-scale coastal fisheries and local and
regional communities dependent on fishing activities.
“The EU stands by its businesses,
regions and the countries most affected by Brexit. Through the Brexit
Adjustment Reserve, we managed to organise a quick European response and
to provide assistance swiftly. Thanks to clear criteria, 5 billion euro
will go where they are actually needed. We also made sure that the
first part of the assistance can already be allocated from the end of
this year”, said EP rapporteur Pascal Arimont (EPP, BE).
To finalise the legislative process and
distribute the financial support, the Brexit Adjustment Reserve also has
to be formally approved by the EU Council.