EU Plans €1.6 Billion Aid for Spain Valencia Flood Recovery

Spain is set to receive nearly €1.6 billion from the European Union to aid recovery and reconstruction efforts following the devastating floods in October 2024, which caused nearly 240 deaths, primarily in the southern suburbs of Valencia. The European Commission proposed €945 million from the EU Solidarity Fund and an additional €645 million reallocated from Spain's cohesion funds to support the recovery. This EU aid package represents one of the largest allocations from the Solidarity Fund since its inception and underscores the commitment to helping member states build resilience against future climate-related disasters. Spain has also committed €2.3 billion for reconstruction in the most affected areas, with Prime Minister Pedro Sanchez linking the floods to climate change. European Commission President Ursula von der Leyen highlighted the solidarity and shared grief across Europe in response to the disaster and emphasized the urgency and importance of the recovery support. The financial aid awaits approval from the European Parliament and EU member states before full disbursement.