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Rabat – The Spanish government has launched a sweeping €10.6 billion emergency relief initiative aimed at supporting residents and businesses devastated by the historic floods that have ravaged southeastern Spain.
The plan, announced today, includes financial assistance, tax relief, and substantial credit provisions to aid recovery efforts.
Prime Minister Pedro Sánchez detailed the plan following a special Council of Ministers meeting, emphasizing that the initial support package reflects a significant commitment to helping affected communities.
“The total investment in these initial measures will exceed €10.6 billion,” Sánchez confirmed, calling it an essential step to stabilize local economies and assist thousands of affected residents.
The emergency package encompasses a variety of direct assistance measures, including tax cuts and financial aid for both individuals and businesses.
Approximately 65,000 self-employed individuals and 30,000 small businesses are expected to receive relief under this plan, Sánchez noted.
To bolster economic resilience, the government has also allocated €5 billion in credit lines, modeled on a similar approach implemented during the COVID-19 pandemic.
These funds will be accessible to small and medium-sized enterprises (SMEs), independent workers, and families, providing an economic lifeline as communities work to rebuild.
The government declared a formal state of natural disaster in the flood-affected areas, ensuring that municipalities can access federal support to cover immediate response costs.
Under this decree, Spain’s central government will reimburse “100%” of emergency expenses incurred by local governments in assisting residents and clearing public spaces.
In addition to short-term measures, Sánchez indicated that the administration is developing a comprehensive, long-term plan.
This initiative will include reconstruction projects and a broader transformation strategy aimed at enhancing climate resilience, highlighting Spain’s commitment to addressing future climate-related threats.
The floods, among the deadliest in recent Spanish history, have claimed at least 218 lives, with search efforts ongoing for those still missing.
