 "German govt to provide $68 billion to help rebuild flood-hit regions")
The German government agreed Tuesday to provide 58 billion euros (USD68 billion) to help rebuild regions hit by devastating floods last month.
Chancellor Angela Merkel and the heads of Germany's 16 states approved the state aid package that is significantly larger than the funds provided for past flooding disasters. It still needs parliament's endorsement.
More than 180 people died in Germany and hundreds more were injured in July 14-15 floods, which also claimed lives in neighboring Belgium. Heavy rainfall turned small streams into raging torrents, sweeping away houses and bridges.
A United Nations science panel released a report this week predicting that such extreme weather events will become more frequent as the planet heats up further.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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