Quick links: United States | Major Indices | Indices Future | Real-time Commodities | Webinars | Coronavirus | Economic Calendar
World
24 Oct 2021
Spain Promised to Move Faster in Aiding the Volcano-hit La Palma Island
The Index Today
Prime Minister Pedro Sanchez mentioned that Spain would speed up help to the most affected industry of agriculture and fishing on the island of La Palma, where part of the volcano's cone erupted on Saturday and red hot lava continued to flow over a month now.
According to the Reuters report, the lava has covered almost 900 hectares of land, destroying over 2,000 buildings and many banana plantations. More than 7,000 people have had to leave their homes since the eruption started on Sept. 19.
Sanchez said during the press conference, "At the cabinet meeting next Tuesday we are going to make a budgetary modification to accelerate the arrival of economic resources for both the Employment Plan and aid for the entire agriculture and fishing sector."
In addition to the Reuters report, they mentioned that on early October, Sanchez announced 206 million euro ($239 million) in government funding for the island to rebuild infrastructure and boost employment, agriculture and tourism.
The Canary Islands Volcanology Institute mentioned that part of the main cone had also collapsed on Saturday morning. They tweeted footage of dark ash clouds blowing out from the volcano.
The eruption destroyed some of the island's banana crops, which provide half its economic growth on the island.
©Photo: GeologyHub
