Overview
- MEPs backed the grant by 622 votes to 10 with 3 abstentions, confirming €946,153,691 for flood recovery after a €100 million advance was paid in April.
- The award is based on the Commission’s €18.08 billion damage estimate and the FSUE formula of 2.5% below the threshold and 6% above it, making this the fund’s second-largest allocation since 2002.
- The same resolution allocates €110 million to France for cyclone damage in Mayotte and Réunion, and the Commission has cleared €645 million in cohesion reprogramming under RESTORE, bringing Spain’s EU recovery financing to about €1.6 billion.
- Funds will reimburse public emergency spending and restore key services and infrastructure including energy, water, wastewater, telecoms, transport, health, education, cleanup and temporary housing.
- Implementation now depends on procedures agreed by Spain’s finance ministry and the Generalitat Valenciana, with calls to speed evaluations and payouts despite typical yearlong delays and to boost prevention and climate adaptation investments.