The European Union will allocate a total of € 5 billion by 2025 to all countries and companies affected by the UK's withdrawal agreement, the European Parliament confirmed in a statement. According to the announcement, such an amount would help companies as well as countries affected by the withdrawal agreement to recover from possible damage.
"To help Europeans adapt to change, in July 2020, EU leaders agreed to create the Brexit Adjustment Reserve, a EUR 5 billion fund (in 2018 prices) to be paid by 2025. EU countries will begins to receive resources by December, after Parliament's approval. MEPs are expected to vote on the fund during the September plenary session. ", is shown in the statement.
During the period when the United Kingdom was officially part of the European Union, citizens in both territories were able to enjoy several benefits. However, since the beginning of this year, new rules have begun to apply. The journey to the countries of the European Union was much easier for British citizens, when Great Britain was part of the EU.
EU, EEA and Swiss nationals are obliged to comply with the travel requirements of third-country nationals.
The United Kingdom left the EU on 31 January 2020. Between 20 January and 31 December 2020, the ratified withdrawal agreement was maintained. When the Brexit period ended, it was also the end of the free movement of goods. Therefore, the EU fund would help people, companies and countries to recover from such damage.
The EU Parliament has clarified that the countries that have suffered the worst damage in Brexit will receive the most significant financial support, as follows:
- Ireland - € 1.064.999.515
- The Netherlands - € 810.095.209
- France - € 672.296.868
- Germany - € 590.995.101
- Belgium - € 353.330.180
- Denmark - € 251.350.466
- Spain - € 249.017.720
- Poland - € 158.701.512
To determine the amount of money for each country, Parliament took into account three main factors: the importance of trade with the UK, the value of fish caught in the UK's exclusive economic zone and the size of the population living in the EU's maritime regions closest to the UK. United.