The Commission has approved the reallocation of €166 million from the European Social Fund Plus (ESF+) via the RESTORE mechanism to support the recovery of the areas affected by the October 2024 devastating floods in the Valencia region.
This assistance complements the €1.6 billion already approved earlier this month through the EU Solidarity Fund (EUSF), as well as other cohesion funding redirected to address the disaster’s aftermath.
Rebuilding the Valencia region
The ‘DANA’ (‘high-altitude isolated depression' by its Spanish acronym) of October 2024 brought relentless rainfall that caused severe flooding, claimed more than 230 lives, and caused extensive damage to homes, schools, hospitals, transport networks, and businesses across the region.
These additional funds will help to:
- support self-employed workers who lost their businesses,
- provide training opportunities for young people living in the affected areas,
- finance the replacement of basic goods, and
- strengthen psychological and educational guidance for pupils.
Emergency measures will be financed retroactively from the first day that the DANA floods caused damage, with an EU co-financing rate of up to 95% of the eligible expenditure.
In addition, €18 million will be reallocated under the Strategic Technologies for Europe Platform (STEP) from the ESF+ to finance specialisation courses in digital technologies, biotechnologies and clean technologies in the Valencia region. These courses will contribute to the region’s recovery while fostering the development of critical technologies for the EU’s long-term competitiveness
Roxana Mînzatu, Executive Vice-President for Social Rights and Skills, Quality Jobs and Preparedness, said:
One year after one of Europe’s most devastating floods, the people of Valencia are still rebuilding their lives and communities. From the very start, the EU helped support relief efforts. Today we stand with Spain to speed up recovery. Beyond repairing roads and buildings, recovery also means helping people regain hope and stability. That is why we are mobilising €166 million from the European Social Fund Plus to support self-employed workers who lost their businesses, provide training for unemployed and young people, and strengthen counselling support for students in the affected areas. Europe stands by those who need it most, with concrete help to rebuild their lives and be better prepared for the future.
Next steps
For RESTORE funds, payments will be made progressively based on expenditure.
Background
The RESTORE legislation, adopted in December 2024, allows Member States to complement EUSF support with Cohesion Policy funds. The initiative offers a 95% EU co-financing rate and 25% pre-financing for recovery measures.
