While the BVI will still access EU funding for current projects, the territory will not receive EU funding for future projects. This is because the BVI lost its ‘Associate Status’ with the EU when the UK exited the Union in a process called Brexit on Friday, January 31, 2020.
Following Brexit, Premier Andrew Fahie said there will be implications on the BVI that extend to international relations and development cooperation.
“Politically, the BVI has enjoyed Associate Status in the EU as one of the Overseas Countries and Territories (OCTs) directly associated with the bloc. Our Associate Status has entitled us to EU funding with which to tackle issues such as climate change, sustainable energy and marine biodiversity; and also recovery after Hurricanes Irma and Maria,” Premier Fahie stated.
“We lose our Associate Status in the EU and will have no access to the next round of EU funding earmarked for the French, Dutch and Danish Territories we leave behind. This is very unfortunate since the BVI is eligible for little other development assistance,” he added.
If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.