The EU is proposing to make €120 million (£105 million) available to continue funding peace and cross border projects in Northern Ireland after Brexit, according to a report from BBC Northern Ireland.
The report is based on an EU budget document published this week which states that the European Commission, the UK and Ireland will be parties to “this specific financing agreement.”
If approved, the money will be made available to eligible organisations from 2021 to 2027. It will be split evenly between cross-border projects and those acting “in support of peace and reconciliation.”
The PEACE Programme was created in 1995 as a result of the EU’s efforts to provide a positive response to the paramilitary ceasefires of 1994. The current Peace IV programme which runs to 2020 is an initiative of the European Union which has been designed specifically to support peace and reconciliation.
Under previous programmes the EU funds have attracted matched funding, mainly from the Northern Ireland Executive and Irish government.
The EU is also proposing that the UK government will continue to make a financial contribution to help pay for the schemes.
Earlier this year, the President of the European Commission Jean-Claude Juncker said he could see “no more important use” of the EU budget than maintaining the peace process in Ireland.
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