WELSH First Minister Carwyn Jones is putting aside £50 million to help businesses and public services prepare for Brexit.

He said the EU Transition Fund, announced today, will provide a combination of financial support and loan funding.

The fund will also be designed to help employers retain and continue to attract EU nationals who make a crucial contribution to Wales.

Mr Jones is due to say: “Brexit poses different challenges and opportunities for each and every aspect of Welsh life — from our local businesses and major employers to our farmers, hospitals and universities.

“I am making an early announcement about this fund, so we have the greatest opportunity to design this fund with those organisations and businesses it is intended to help.

“My priority is to ensure Wales is in the best possible position to deal with the challenges and opportunities ahead.”

The fund will also provide dedicated development support for Welsh agriculture.