In a statement, the Slovenian rotating EU presidency said that "the Council has today given its final approval to a fund to help member states deal with the negative impact of Brexit."

The fund totals €5.4 billion to be shared among the 27 EU countries and takes into account the importance of trade exchanges, fishing in the exclusive economic zone of the United Kingdom and also the neighbourly relations for the regions that have a maritime border with the UK.

For Portugal, the €81.3 million has been calculated based on trade in goods and services with the United Kingdom and fishing in the exclusive economic zone of the United Kingdom.

According to the EU, this fund “will help the most affected regions, sectors and communities to cover additional costs, compensate for losses or combat other adverse economic and social effects directly resulting from the departure of the United Kingdom from the European Union”, stressing that it is a “special and punctual emergency instrument”.

The objective is “to support public and private companies that face disturbances in trade flows, including new costs related to customs controls and administrative formalities”, the Council says, adding that Brexit “has created a situation without precedents”.

Among the measures envisaged are support for small and medium-sized enterprises, communities and regional and local organisations, including small-scale inshore fishing dependent on fishing activities in UK waters, as well as promoting job creation and reintegration into the labour market of returning EU citizens.

Measures implemented between January 1, 2020 and December 31, 2023 will be supported, so as to cover expenses incurred before the end of the transition period.

The €5 billion fund was agreed last year by EU leaders as part of the 2021-2027 budget.

Most of the fund (€4.3 billion) will be made available to the 27 as pre-financing in three annual instalments – in 2021, 2022 and 2023 – with the remaining funds to be made available in 2025, after expenditure analysis.