Valencia Requests €31 Billion in Aid Following Devastating Floods

Spain’s Valencia region was struck by devastating floods, resulting in the loss of 217 lives and extensive material damage. Valencia Regional Government President Carlos Munoz announced the preparation of a 136-point action plan to compensate for the economic losses caused by the floods, which affected more than 50 districts, and to facilitate the region’s reconstruction. As part of this plan, they requested €31.4 billion in aid from the central government.

Munoz also stated that the income tax installment payments for those affected by the disaster have been suspended, and each affected family will receive an urgent aid grant of €6,000. The initial payments are expected to begin by the weekend.

Following the flood disaster, over 20,000 hectares of agricultural land in Valencia were damaged, and numerous homes, hospitals, industrial facilities, and shopping centers were affected. Additionally, more than 100,000 vehicles were rendered unusable.

To address the crisis, the Valencia local government and Spain’s central government have agreed to form five joint working groups. An initial €2.6 billion investment in infrastructure is planned as part of the recovery efforts.

Spanish companies have also mobilized to assist Valencia. Banks like BBVA, Santander, and La Caixa have pledged a combined €12 million in aid.

Intensive efforts are ongoing at both local and national levels to help Valencia recover from this major disaster.