Flood Disaster Could Cost Italy €1.5 Billion in Damage to Crops
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Floods in Italy’s Emilia-Romagna region could have caused damages to crops for about €1.5 billion ($1.6 billion), according to a preliminary estimate by farming association Confagricoltura.
That’s just the first assessment of the impact of the heavy rains that have hit the northern Emilia-Romagna region, which has a high density of small and medium enterprises, over the last few days. Overall, the devastating impact of floods on Italy’s housing stock could reach €3 billion per year, according to a recent study by the Bank of Italy.