The additional money, which will be spent in the current financial year, will help ensure that properties at locations across Wales are much better equipped to cope with the potential impact of flooding.
Details of the schemes that will benefit from the additional funding will be announced shortly.
Speaking about the additional funding, Environment Minster, Jane Davidson said:
“Making Wales a more sustainable place remains one of our major challenges.
“Tackling flood risk and investing in the right solutions for local problems is critical.
“I have seen at first hand the terrible effect flooding can have on communities. That is why I am pleased that even in the current economic downturn we have been able to provide some new funding for flood risk management to help inform and protect people and communities.
“In the new year I expect to be able to announce which projects will receive funding.“
The Assembly Government will be investing £43m is flood risk management in Wales in addition to the money announced today and the European Structural funds programme.
Earlier this year the Welsh Assembly Government consulted on it its flood risk strategy and expects to publish its new strategy before the end of this Assembly.
The National Strategy for Flood and Coastal Erosion Risk Management in Wales consultation sought views on the following four proposed objectives:
- reducing the impacts from flooding and coastal erosion on individuals, communities and businesses;
- raising awareness of and engaging people in the response to flood and coastal erosion risk;
- providing an effective and sustained response to flood and coastal erosion events;
- prioritising investment in the most at risk communities.