The European Union is relocating one of its key agencies from London to Amsterdam post-Brexit.
On Monday, the EU announced that the European Medicines Agency (EMA) will be moved to Amsterdam, Netherlands, once the United Kingdom leaves the political and economic union.
The European Banking Authority (EBA) is also due to be moved to an as-yet-unannounced city.
Between the two agencies, the move will affect almost 1,000 jobs in Britain, and millions in annual funding. There were 27 proposals from 23 cities, and European Union member states voted in Brussels on Tuesday.
In June 2017, following Britain’s decision to leave the European Union, the EU agreed unanimously to relocate the two agencies.
This story is developing…
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.