Coastal communities in Ireland will receive €45 million in Brexit adjustment funding for investment in seafood processing, the Government has announced.

Minister for Agriculture Charlie McConalogue announced approval for the scheme, which is based on a recommendation of a seafood taskforce set up by his Department in the wake of Brexit.

The allocation is being provided under the Brexit Adjustment Reserve (BAR) fund.

Mr McConalogue said that seafood processors are of “vital importance” to coastal communities and sustain over 4,000 jobs. The scheme will provide greater levels of funding to capital investment projects which result in higher value-added activities, the Department said in a statement.