Brexit, Malta allocated 35 million from the European Commission

LA VALLETTA (MALTA) (ITALPRESS/MNA) – Due to the United Kingdom leaving the European Union, the European Commission has allocated over 35 million to Malta. By the end of the month, the Maltese government will be receiving over 13 million for 2021, another 10.5 million for 2022, and 10.7 million for 2023.
The Maltese government said that this fund will be used as soon as possible to alleviate the economic burden that many businesses adversely affected by Brexit, will face. The Member States may use the funding until 31 December 2023 to cover expenses incurred and paid since 1 January 2020.
According to the European Commission, this money will help member countries’ economies to alleviate the extra costs of the impact of Brexit on various economic sectors – small and medium-sized enterprises, job creation, and training, among others.
European Cohesion and Reform Commissioner, Elisa Ferreira, said Brexit has had a negative impact on the lives of European citizens, and said the Brexit Adjustment Reserve would be making up for the social and regional economic repercussions.
The Brexit Adjustment Reserve of 5.4 billion has been put in place to support all Member States with a strong focus on those most affected.

Source: medNews