Press release
Ministers Coveney and Byrne welcome €1.05 billion allocation to Ireland from Brexit Adjustment Reserve
From Department of Foreign Affairs
Published on
Last updated on
From Department of Foreign Affairs
Published on
Last updated on
Minister for Foreign Affairs, Simon Coveney TD and Minister for European Affairs, Thomas Byrne TD have warmly welcomed the Commission proposal for an allocation of over €1bn to Ireland from the Brexit Adjustment Reserve, which was set up to help member states most affected by Britain's departure from the EU.
Minister for Foreign Affairs, Simon Coveney said:
"I’m pleased that this proposal has been made on the Brexit Adjustment Reserve. The BAR is valued at a total of €5.4 billion, €4.2 billion in 2021 and €1.1 billion in 2024. Ireland’s proposed initial allocation for 2021 is €1.051 billion or 25% of the first tranche of the fund.
"My department and our permanent representative in Brussels have been relentless in maintaining the argument that allocation of this fund should reflect the countries most affected by Brexit. Once again I want to thank my team for what they have delivered here. Once approved, the funds will go to my colleagues Paschal Donohoe and Michael McGrath to manage at cabinet level. I hope the European Parliament and Council will now approve as we continue to work through Brexit."
Minister for European Affairs, Thomas Byrne TD said:
"I met virtually with Commissioner Johannes Hahn yesterday where he informed me of this much anticipated news of an initial proposed allocation of over €1bn to Ireland and a further allocation in 2024. This funding from the Commission is much needed by the sectors and areas most negatively affected by Brexit.
"An Taoiseach Micheál Martin negotiated this fund at the European Council in July and Ministers and officials have worked tirelessly to ensure Ireland’s interests were protected. I look forward to the Commission’s proposal receiving support from all member states and the European Parliament."