The body responsible for projects under the PEACE IV and INTERREG VA Programmes has confirmed that funding is guaranteed under the current programming period, irrespective of the Withdrawal Agreement between the UK and the EU.
Both funding streams are managed by the Special EU Programmes Body (SEUPB).
In total 85% of the Peace IV, representing €229 million, is provided through the European Regional Development Fund (ERDF). The remaining €41 million, representing 15%, is match-funded by the Irish Government and the NI Executive. The eligible area for the PEACE IV Programme for 2014-2020 is Northern Ireland and the Border Counties of Ireland (including Cavan, Donegal, Leitrim, Louth, Monaghan and Sligo).
The ERDF also provides 85% of INTERREG VA, representing €240 million. The balance of €43 million is provided by the Irish Government and the Northern Ireland Executive. INTERREG V’S core objectives are that it will make a real and lasting change in terms of research and innovation for cross-border enterprise development, environmental initiatives, sustainable transport projects and health & social care services on a cross-border basis.
The PEACE IV and INTERREG VA programmes have received extensive support and commitments from all parties involved, to ensure that they can be continued until their conclusion, and this commitment has been agreed to and included within the Withdrawal Agreement between the UK and the EU.
As part of the EU contingency planning to prepare for the withdrawal of the UK, in December 2018 the Commission developed an EC Regulatory proposal which is going through the EU legislative process and is due to be approved by the European Council of Ministers and the European Parliament this month. This has been proposed with the support of the UK and Ireland representatives and it is anticipated that this will be in place before 29 March 2019.
This proposal aims to ensure, if the Withdrawal Agreement is not ratified, the two programmes will continue without modifying the amounts allocated to them and their financing.
You can find out more about the continuation proposal.
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