First Minister Carwyn Jones has announced a significant cash boost to help Welsh businesses and public services plan and prepare for Brexit.
The EU Transition Fund - supported by an initial £50m - will be
developed in partnership with Welsh businesses, public services and
other key organisations, to provide tailored support as the UK
prepares to leave the EU.
The fund will provide a combination of financial support and
loan funding, and will support the provision of technical,
commercial, export-related and sectoral-specific advice for
In addition, the EU Transition Fund will be designed to help
employers retain and continue to attract EU nationals, who make a
crucial contribution to Wales. The fund will underline Wales'
welcome to people from other countries who have made Wales their
The fund will also provide dedicated development support for
Wales' agricultural industry as it prepares for transition and the
future once the UK has left the EU.
First Minister Carwyn Jones said:
"Brexit poses different challenges and opportunities for each
and every aspect of Welsh life - from our local businesses and
major employers, to our farmers, hospitals and universities.
"The EU Transition Fund will help meet the challenges that lie
ahead. Developed in partnership with our businesses and public
services, it will provide targeted and innovative support, which
will help them survive and, indeed, thrive outside the EU.
"I am making an early announcement about this fund, so we have
the greatest opportunity to design this fund with those
organisations and businesses it is intended to help.
"My priority is to ensure Wales is in the best possible position
to deal with the challenges and opportunities ahead. As a
government, we are committed to providing solutions which work for
Wales and we will continue to work with partners to make the most
of every opportunity."
The £50m EU Transition Fund is supported by an initial £10m down
payment in the 2018-19 final budget. It builds on £5m allocated for
Brexit preparedness over 2018-19 and 2019-20 as part of the 2 year
Budget agreement with Plaid Cymru.
The EU Transition Fund will provide support in devolved
Click here for original press release.