[Tue, 05 Nov 2024 22:47:26 +0300]

Madrid - Saba:
Spanish Prime Minister Pedro Sanchez on Tuesday announced 10.6 billion euros ($11.55 billion) in loans and grants to help victims of the flash floods that hit the country's east coast around Valencia last week.

AFP quoted Sanchez as saying: His country plans to spend up to 838 million euros in direct financial aid to those affected by the floods that left 217 people dead last week in the worst disaster of its kind in Spain's recent history.

The state credit authority will provide financial guarantees for about five billion euros in loans to small and medium-sized businesses, freelancers and families to support reconstruction efforts.

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