Spain allocates €9.6 bn for Valencia flood reconstruction

The Spanish central government has committed more than €9.6 billion to rebuild areas hit by the October 2024 DANA floods in the province of Valencia. Of that sum, €1.1 billion is earmarked for repairing damaged public and semi‑public schools, affecting roughly 30,000 students. Minister Ángel Víctor Torres said that “municipalities are prioritising schools because they are the daily backbone of towns.”

The regional president of the Generalitat, Juanfran Pérez Llorca, criticised the slow pace of hydraulic works and the limited use of transferred funds. He noted that only about 5 % of the €1.7 billion already transferred to municipalities has been spent and urged changes to procurement rules, faster activation of the European Solidarity Fund (€946 million) and clearer access to €1.25 billion of Next Generation EU resources. “If the regulations are not changed, this will take a long time,” he warned.

Both officials emphasized the need to accelerate reconstruction, complete pending insurance payouts and expand the list of municipalities recognized as affected.