Spain To Receive Almost €1.6 Billion In Eu Funds To Repair Damage From Valencia Floods

Spain is group to person astir €1.6 cardinal successful assistance from nan European Union to support nan betterment of infrastructure and repair nan harm caused by nan devastating floods brought by nan DANA storm, which near 229 victims successful nan state of Valencia successful October 2024.

The European Commission has projected €945 cardinal from nan EU Solidarity Fund and approved nan reallocation of a further €645 cardinal from Spain’s Cohesion Funds done nan Restore system to fortify European support for nan betterment efforts.

“The devastation we witnessed almost a twelvemonth agone successful nan Valencian Community and crossed Spain profoundly moved Europe. This ambiance disaster agreed america successful shared condolences and solidarity. I met pinch relatives of those who mislaid loved ones successful nan DANA floods and felt their pain,” said Commission President Ursula von der Leyen.

Brussels had already paid Spain an beforehand of €100 cardinal successful March 2025 to screen contiguous expenses caused by nan floods, nan maximum permitted nether EU rules.

Once nan European Parliament and nan Council o.k. nan Commission’s proposal, nan remaining equilibrium – nan full allocation minus nan pre-financing already paid – will beryllium disbursed successful a azygous instalment, while Restore payments will beryllium released gradually depending connected expenditure.

The projected support from nan Solidarity Fund for Spain represents nan 2nd largest allocation since nan fund’s creation successful 2002, only down nan €1.2 cardinal granted to Italy pursuing nan earthquakes of 2015 and 2016.

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