Slovakia to get extra €33 million to counter impacts of Brexit

This is €9 million more than originally proposed.

A member of protocol removes the EU flag from the UK Permanent Representation to the EU in Brussels on January 31, 2020. A member of protocol removes the EU flag from the UK Permanent Representation to the EU in Brussels on January 31, 2020. (Source: AP/TASR)

Slovakia will receive €33 million from the €5 billion Brexit Adjustment Reserve launched to counter the adverse economic and social consequences of Brexit. This is €9 million more than originally proposed. The Brexit Adjustment Reserve will be distributed in two rounds.

Related articleThe impact Brexit has on businesses is hard to tell due to the pandemic Read more 

“We designed this reserve to provide swift and uncomplicated help, focusing on EU member states most adversely affected by Brexit,” said European Commissioner for Budget and Administration Johannes Hahn, as cited in the press release from December 25, 2020.

Slovakia’s Investment Ministry is now preparing a document on the implementation of the aid.

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