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EIB's €900M Aid for Spain's Flood Recovery

Spain receives €900 million in emergency aid from the EIB to recover from devastating floods, while the government unveils a €10.6 billion social shield.

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Spanish

Spain

Climate ChangeEuropean UnionEconomic ImpactEmergencyRecoveryFloodAid

European Investment Bank (Eib)Spanish GovernmentConsorcio De Compensación De Seguros (Ccs)

Nadia CalviñoCarlos Cuerpo

How will the EIB's plan assist Spain's recovery from the floods?: The EIB's plan will accelerate existing initiatives to support the reconstruction of critical infrastructure in the affected regions, mirroring their response to Central European floods last September.
What was the response from key figures regarding the crisis and aid?: Both Nadia Calviño, president of the EIB, and Carlos Cuerpo, Spain's minister of economy, expressed commitment to supporting the affected regions and ensuring a swift recovery and better reconstruction.
What measures has the Spanish government taken to address the crisis?: The Spanish government has approved a €10.6 billion social shield with aid for citizens, businesses, and local institutions, and will cover 100% of emergency expenses for affected municipalities.
What financial aid is the European Investment Bank providing to Spain?: The European Investment Bank (EIB) is providing a €900 million emergency plan to help Spain recover from devastating floods in the east of the country.
What are the early indicators of the economic impact of the DANA floods?: As of Wednesday, 114 ERTEs (temporary employment regulation files) affecting 1,957 workers have been registered, and over 72,000 insurance claims have been filed for damages to homes, vehicles, and businesses.

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