Europe

Italy approves $2.2B aid package for flood-hit region

Emergency package includes tax exemptions and special contributions for families and businesses hit by disaster

Giada Zampano  | 24.05.2023 - Update : 24.05.2023
Italy approves $2.2B aid package for flood-hit region A view of damage after the city was hit by 2 floods, respectively the first from May 1 to 4 and the second from May 17 to May 19, in Faenza, Emilia Romagna on May 22 2023.

ROME 

The Italian government approved an aid package Tuesday worth more than €2 billion ($2.2 billion) to help flood-hit areas in the northern region of Emilia-Romagna devastated by deadly torrential rains. 

Nearly a week after floods that killed at least 14 people and left over 20,000 displaced in the region, dozens of cities and small towns remain submerged by water and mud which have destroyed thousands of acres of fertile land and wrecked local businesses.

The aid package, approved during an emergency Cabinet meeting, includes tax exemptions and special contributions for families and firms hit hard by the floods – the worst experienced in Italy in almost a century.

About €200 million has been earmarked for farmers to help them face losses in their crops and replace damaged machinery. An additional €300 million will be devoted to export-led companies and €20 million to schools.

Workers who temporarily lost their jobs will receive about €600 million, while tax payments will be suspended until August as well as payments for utilities.

“Finding €2 billion in a few days was not an easy task,” Prime Minister Giorgia Meloni told reporters in a brief press conference following the Cabinet meeting, responding to criticism over the government’s slow response to the Emilia Romagna disaster.

Environmental experts have highlighted how such extreme weather events are becoming more and more frequent in Italy, whose fragile territory is particularly exposed to the effects of climate change, underlining the need for immediate action and prevention.

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