Spain says it will give Valencia 3.76 billion euros in new help after the floods
On Monday, Spain’s Prime Minister Pedro Sanchez stated that the area around Valencia would be rebuilt with an extra 4.01 billion euros ($3.7 billion). This comes after the deadliest flash floods in Spain’s modern history.
Heavy rains on October 29 caused floods that killed more than 220 people in the areas south of Valencia, the regional capital.
These steps come on top of the 10.6 billion euros in help that was announced last week.
Post-cabinet meeting, Sanchez told media, “There are still streets to be cleaned, garages to be drained, many infrastructures to be fixed, and most importantly, many lives, many homes, and many businesses to be brought back to normal.”
The 110-measure package includes help for rental homes, a 500-million-euro plan to clear up the mud in the affected area, and 200 million euros to help farmers.
Sanchez said that in addition to the one-year moratorium that was announced last week, it includes an extra 12 months of mortgage relief for vulnerable families.
Sanchez also said that 150 houses or flats will be given to families who were touched by the damage by the government, and 25 million euros will be set aside to buy houses.
$1 equals 0.9380 euros
