Malta Allocated €40m From Brexit Adjustment Fund
MEPs approved the €5 billion Brexit Adjustment Reserve to help member states deal with the economic, social and territorial impact of the UK’s departure from the EU. The 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. Malta is expected to receive some €40m from the fund.
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