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German state to compensate flood damage up to 80 per cent

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DPA

Individuals and companies hit by the flooding that devastated parts of western Germany in mid-July are to be compensated by the state for up to 80 per cent of their losses, the cabinet decided on Wednesday. Cases of particular hardship may be paid out in full. Payments from insurance companies and emergency aid funds will top up the payments to a maximum of 100 per cent. “We stand together in times of emergency,” Finance Minister Olaf Scholz said. The government had set aside 30 billion euros (35 billion dollars) to clean up the damage and to rebuild infrastructure and other buildings, he said…

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