EU Agrees to €25.3m Advance Payment to Greece for 2023 Flood Damage

Archive photo of flood damage in 2023. Photo source: Region of Thessaly

Greece will be receiving 25.3 million euros in advance payment to address the damage caused by last year’s floods after European Commission approval this week.

Under the European Solidarity Fund (EUSF), the funds – 25 percent of the total to be granted – will go towards easing the financial burden of reconstruction efforts caused by Storm Daniel, which hit Magnesia, in the Region of Thessaly, Central Greece last September.

Experts said the storm was the deadliest tropical-like cyclone to take place in the Mediterranean in recorded history, causing extensive flooding mainly in the regions of Thessaly and Central Greece.

“Last year’s floods caused by cyclone ‘Daniel’ can only be described as a tragic event in Greece’s history; citizens lost their lives and homes, with their surrounding environment being heavily impacted and altered by the extensive damages caused by the cyclone,” said Commissioner for Cohesion and Reforms Elisa Ferreira.

Archive photo of flood damage in 2023. Photo source: Region of Thessaly

“With this European Solidarity Fund advance payment, we are helping Greece to recover from this disaster, standing shoulder-to-shoulder with the Greek people, and providing them with renewed hope and positivity for a bright future.”

According to Greece’s assessment, estimated direct damage comes to a total of 2.3 billion euros. The remaining payment (75 percent) will depend on the Commission’s assessment of Greece’s application for EUSF support and budgetary availability within the year.

Magnesia, and particularly the villages of Mt Pelion, are among the country’s top tourism destinations. The Federation of Hellenic Associations of Tourist & Travel Agencies (FedHATTA) urged the government to support affected tourism businesses which suffered losses in the fall and winter, peak season for the region. Damage led to cancellations.

The EUSF helps EU member states and accession countries to handle the financial burden caused by natural disasters and health emergencies. Founded in 2002, the fund has since mobilized over 8.2 billion euros of financial aid for 129 disasters (109 natural disasters and 20 health emergencies) in 24 EU countries (plus the UK), and three accession countries (Albania, Montenegro, and Serbia).