Austria Boosts Disaster Fund in Wake of Devastating Floods

Austria responded to severe flooding with a series of measures, including tripling the federal disaster fund to 1 billion euros and offering tax postponements and interest-free loans for affected companies. The government aims to invest around one billion euros in flood protection in the coming years.

In response to severe flooding, Austria announced a robust package of measures on Wednesday. The federal disaster fund has been tripled to 1 billion euros, while affected companies will benefit from tax postponements and interest-free loans.

Austrian political parties have suspended their campaign activities for the upcoming parliamentary elections, focusing instead on addressing the crisis. Chancellor Karl Nehammer highlighted the immense challenges and suffering caused by the floods in a statement.

Lower Austria, one of the hardest-hit areas, has already received 45 million euros in aid. In addition to the immediate relief, the government plans to invest around one billion euros over the coming years to expand flood protection infrastructure.

(With inputs from agencies.)