The European Investment Bank (EIB) has offered Spain the possibility of redirecting and accelerating payments of existing funds for an amount of up to 900 million euros for the reconstruction of critical infrastructures after the DANA that has left more than 200 dead in the east and south of the country, most of them in the province of Valencia.
This was announced by the president of the EIB, Nadia Calviño, this Wednesday in Brussels during her speech before the MEPs of the committee on European Parliament budgets.
«We have prepared, together with the Spanish Government, an urgent financial support package to redirect and accelerate payments of existing funds of up to 900 million euros for the reconstruction of critical infrastructure after DANA,” explained the president of the EIB.
In this way, the EU financial body seeks to provide support to Spain in reconstruction, in the same way as has already unlocked aid to Central European countries affected by flooding in September.
“Not only is it the right thing to do, but It’s also the smartest thingsince every euro invested in resilience and adaptation saves between five and seven euros in damage repair,” he defended.
Calviño has highlighted that these phenomena “confirm the need to invest more in adaptation and resilience» in the face of the effects of global warming and has focused on water management as an “area of growing attention.”
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