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EU allocates $1.1 billion to Spain as aid for the recovery from the Valencia floods

The European Commission announced on Friday that it had allocated an aid package worth 945 million euro ($1.1 billion) for Spain to recover from the worst flash floods recorded in Spain's history.

Nearly 240 people lost their lives in Spain after torrential rainfalls in October last year triggered floods which swept across eastern and southern Spain. Valencia's south suburbs were the most severely affected area, where over 220 people perished.

Prime Minister Pedro Sanchez has announced a 2.3 billion euro aid package to rebuild areas in the region that were affected by flooding, which he said was caused by climate changes.

The European Commission announced on Friday that the total amount of aid earmarked for recovery after the floods will be around 1.6 billion euro, with 645 million additional euros coming from Spain’s cohesion fund which would be reallocated.

In a statement, Ursula von der Leyen, President of the European Commission said: "This commitment reflects a determination to assist member states in building greater resilience and coping with future crises."

(source: Reuters)