Spain Announces €10.6 Billion Relief Package For Flood Victims

Spain’s government has announced a substantial relief package worth 10.6 billion euros ($11.55 billion) in loans and grants to support victims of the devastating flash floods that recently struck the eastern coast around Valencia.

This emergency response, detailed by Prime Minister Pedro Sanchez, includes both financial assistance and reconstruction efforts for affected communities.

The relief measures include 838 million euros in direct cash aid to individuals and families impacted by the disaster. The floods, which claimed 217 lives in what is now considered Spain’s deadliest flood in modern history, have left widespread damage, affecting homes, infrastructure, and livelihoods.

In addition to direct aid, Spain’s credit agency ICO will guarantee up to 5 billion euros in loans aimed at small and medium-sized businesses, self-employed individuals, and families who need financial resources to rebuild and recover. Further funds are allocated for tax and benefit deferrals for affected residents, as well as essential property replacements and repairs to damaged roads and railway lines.

To support recovery operations, Spain has deployed nearly 15,000 police officers and soldiers to assist in the hardest-hit areas.

Melissa Enoch

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