On 24 June 2026, the European Commission approved an €846 million payment from the EU Solidarity Fund to Spain for reconstruction after the October 2024 Valencia flood, known locally as the DANA. The disbursement complements a €100 million emergency advance released in March 2025, bringing the total grant to €945 million—the second-largest EU Solidarity Fund allocation since the program’s creation in 2002. Eligible categories include restoring water and energy networks, drainage systems, and riverbanks.
The DANA killed more than 230 people and flooded dozens of municipalities across the Valencia region. Spain’s Independent Authority for Fiscal Responsibility assessed the resulting damage on 17 June 2026 at €12.2 billion—more than 8% of the Comunidad Valenciana’s annual gross domestic product and the second-costliest event for Spanish public finances since 2005, behind COVID-19. Of that total, €4.2 billion went to the Consorcio de Compensación de Seguros—Spain’s state-backed catastrophe insurer—and €8.0 billion to state reconstruction aid, tax relief, and credit measures.
