Spain's flood-hit Valencia seeks €31.4B in recovery aid

Spain's Valencia region requested €31.4 billion ($34 billion) in emergency aid from the central government Monday following devastating floods that killed 217 people.

The comprehensive aid request to Madrid includes additional housing support of up to €15,000 per household, €7 billion for industrial reconstruction, €2.6 billion for immediate reconstruction of public infrastructure and €2.2 billion for flood prevention infrastructure, according to information shared by the regional government.

Valencia's president, Carlos Mazon, unveiled a 136-point recovery plan at an extraordinary Cabinet meeting, alongside an immediate regional aid package worth €250 million.

The plan includes direct payments of €6,000 to residents whose homes were damaged, with disbursements expected this week.

Local municipalities will receive minimum grants of €200,000 for urgent expenses, while the regional government has secured tax payment deferrals for affected residents.

The floods and Storm Dana damaged more than 20,000 hectares of agricultural land and destroyed over 100,000 vehicles across 50 municipalities. Some 30% of homes were reportedly damaged along with numerous hospitals, industrial sites and shopping centers.