Spanish Prime Minister Pedro Sanchez announced the first financial package for residents and companies in flood-hit areas in Valencia, and warned that the overall cost could rise to €10.6 billion ($11.

Spain’s central government approved a 10.6-billion-euro relief package for 78 communities on Tuesday that Prime Minister Pedro Sánchez compared to measures taken during the COVID-19 pandemic

Spain has earmarked 10.6 billion euros ($11.55 billion) in loans and grants to help the victims of the flash floods that hit the eastern coast of the country around Valencia last week, Prime Minister Pedro Sanchez said on Tuesday.