Published by Global Banking & Finance Review®
Posted on February 17, 2026
2 min readLast updated: February 17, 2026
Add as preferred source on GoogleSpain approves $8 billion in aid for storm-affected regions, focusing on Extremadura and Andalusia. Over 12,400 people evacuated and 14,000 hectares of crops damaged.
MADRID, Feb 17 (Reuters) - The Spanish government approved financial aid worth around 7 billion euros ($8 billion) on Tuesday for people affected by the storms that battered the Extremadura and Andalusia regions in the past weeks.
Spain and Portugal have been hit by several storms since the start of the year that have caused widespread damage to infrastructure and crops, while forcing authorities to evacuate thousands of people.
"The help will compensate more than 12,400 people evacuated because of these events and mitigate the impact of heavy rains and flooding on houses, businesses and the agricultural and fishing sectors," Budget Minister Maria Jesus Montero told reporters. Montero did not rule out additional aid if further damage emerges from expert reports.
At least 14,000 hectares (35,000 acres) of crops, including berries, citrus fruits and olives, were damaged by the storms, Agriculture Minister Luis Planas told national broadcaster TVE last week.
Spain has recorded 38% more rainfall than average since October, according to state weather agency AEMET.
In Portugal, the government initially estimated more than 4 billion euros in direct reconstruction costs and rolled out 2.5 billion euros in loans and incentives to help rebuild after Storm Kristin wreaked havoc three weeks ago.
(Reporting by Paolo Laudani; Editing by David Latona and Janet Lawrence)
Compensation is a payment or benefit given to individuals for loss, injury, or suffering, often to help restore them to their previous state.
Agricultural sectors encompass all economic activities related to farming, including crop production, livestock, and related services that contribute to food supply.
Storm damage assessment is the evaluation process used to determine the extent of damage caused by storms to infrastructure, property, and agricultural resources.
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