Spain, Sanchez: 10 Billion Dollars to Help Flood-Ravaged Areas
15,000 police and soldiers were sent to the Valencian Generalitad
The death toll from the severe flooding that hit the province of Valencia has reached 222, with many people still missing. On November 5, the Spanish government approved a €10.6 billion aid plan for areas affected by the disaster.
This was announced by Prime Minister Pedro Sanchez, who explained that citizens will receive “direct assistance” of up to 838 million euros, while other money will be allocated to companies affected by the flooding. Sanchez compared the relief effort to what happened “during the covid pandemic.”
Instituto de Crédito Oficial (ICO), the government banking institution, will guarantee up to 5 billion euros in loans to small and medium-sized businesses, self-employed workers, and families to support the recovery, according to Reuters.
After controversy plagued Madrid and local authorities for failing to inform the population in time and offer timely assistance following the devastation, the government sent 14,898 police and soldiers to the affected areas.
