European Parliament approves 5 billion euro Brexit fund
... fund will be used against the effects of Brexit for the economies.
Photo: Sputnik Turkey
Baku, Jale Akbar, İnteraz - 16 September 2021, 10:26
The European Parliament (EP) approved the creation of a 5 billion euro fund to be used against the effects of Brexit for the economies of the European Union (EU) member countries.
At the EP General Assembly session held in Strasbourg, the fund to be established to combat the economic consequences of the UK's withdrawal from EU membership was discussed.
MEPs approved the establishment of a 5 billion euro fund to contribute to the fight against the economic, social and regional effects of Brexit with 652 'Yes', 32 'No' and 11 'Abstention' votes.
1.6 billion euros of the said fund will be distributed in 2021. The remaining 3.4 billion euros will be used until 2025. The fund will provide support to businesses and local communities particularly affected by Brexit.
The fund is expected to provide financial support of approximately 1 billion euros to Ireland, 810 million euros to the Netherlands, 670 million euros to France, 590 million euros to Germany and 350 million euros to Belgium.