Germany releases $470 million funds for flood victims

WHAT YOU NEED TO KNOW:

• The German government will release $470 million funds for the flood victims across the country.
• Finance Minister Olaf Scholz said that the funds will be extended as needed.
• German Chancellor Angela Merkel said that financial aid will be given “unbureaucratically.”

After floods swept across western Germany last week, which resulted in enormous devastation, the German government granted $470 million in immediate relief funds for victims and damaged infrastructure.

The financial aid was approved to assist people in reestablishing their homes and businesses, per Finance Minister Olaf Scholz, who noted that the resources could be extended as necessary.

“If it becomes the case that more is needed, then we will make more funds available,” he said. 

Scholz also said that further efforts would be made to expedite the funding to reach people as soon as possible. Resources will be split between Berlin and the federal states.

The floods have resulted in at least 171 fatalities in Germany and at least 200 across Europe. The surging waters have also reached Belgium.

The government was still assessing the total expenditure for long-term reconstructions of roads and railways, as well as hospitals, electricity, and water networks. The rail networks alone would approximately cost $1.6 billion, according to the Ministry of Transport and Digital Infrastructure.

The chancellor said that the funds for the long-term reconstruction efforts would come from the Berlin government and state funds. Scholz also mentioned that the country was planning to apply for financial assistance from the European Union.

On Tuesday, German Chancellor Angela Merkel toured the town of Bad Münstereifel, which was one of the badly-hit areas in the western state of North Rhine-Westphalia. She described the aftermath as “terrifying.”

“We have seen people who have lost everything,” she said. “We will work together to do everything we can to ensure that funds quickly reach those who have been left with nothing but the clothes on their backs. They are counting on our support.”

Merkel also assured the citizens that the help would be administered “unbureaucratically.”

The recent floods, dubbed as the worst flooding across Germany’s western region, left villages with no electricity and essential services. Highways, railway bridges, and roads were destroyed, as well as the water, sewage, and telecommunications networks.

Source: The Washington Post