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<p>The referendum result has no immediate effect on students abroad under the Erasmus
scheme or applying for 2016/17. Payments will be made in the usual way. Access to
the programme after we leave the EU is a matter for the forthcoming negotiations.</p><p>In
terms of non-Horizon 2020 funding, the Treasury has guaranteed all competitive funding,
where recipients bid directly to the Commission for funds. Where bids submitted before
the UK leaves the EU are successful, the Treasury will underwrite this funding, even
if it continues past the point of exit. The Treasury has also guaranteed structural
and investment fund projects signed before the UK departs the EU so long as they provide
strong value for money and are in line with domestic strategic priorities.</p><p>In
the long term leaving the EU means we will want to take our own decisions about how
to deliver the policy objectives previously targeted by EU funding. Over the coming
months, we will consult closely with stakeholders to review all EU funding schemes
in the round, to ensure that any ongoing funding commitments best serve the UK‘s national
interest, while ensuring appropriate investor certainty.</p><p> </p><p> </p><p> </p><p>
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