Flood-battered Germany approves major relief package
(Worthy News) – Chancellor Angela Merkel’s cabinet approved a huge emergency aid package Wednesday for flood-stricken regions of Germany and said billions would be needed to rebuild homes, businesses and vital infrastructure.
A week into the region’s worst flooding disaster in living memory, which has killed at least 170 in Germany and 31 more Belgium, the right-left “grand coalition” government unlocked some 400 million euros ($470 million) in immediate relief.
The damage caused by the floods is likely to cost the insurance industry up to five billion euros ($5.9 billion), the GDV insurance industry association said, calling the disaster “one of the most devastating storms in recent history”. [ Source: AFP (Read More…) ]
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