Ireland is to receive a total of €920.4m from the Brexit Adjustment Reserve, after the European Commission adopted the decision to allocate the funding.

Ireland, which is the biggest beneficiary of the €5.4bn European fund, is the first member state to receive pre-financing.

The Commission said the funding will help Ireland's economy "in mitigating the impact of Brexit" through economic support, job creation and training

"Brexit has had a negative impact on many people's lives. Within the EU, it is the people in Ireland who feel it the most." Cohesion and Reform Commissioner Elisa Ferreira said.

"The EU's Brexit Adjustment Reserve stands for solidarity with those most affected. In moving forward, we don't want to leave anyone behind," she added.

Ireland will receive €361.5m in 2021, €276.7m in 2022 and €282.2m in 2023.

The funding can cover expenses since 1 January 2020.

The Commission will disburse the first instalment of the pre-financing to Ireland by the end of the year.

The Commission expects to adopt Brexit Adjustment Reserve decisions for the other Member States in the coming weeks.