Approved $80m into grants for flood relief

ALMOST $80 million in ­Special Disaster Assistance Recovery Grants have been approved to grazing and small businesses devastated by this year's North Queensland floods, government figures show.

About $72.4 million of the funding has gone to primary producers across north and northwest Queensland, with about $6.69 million going to small businesses and about $793,000 going to non-profit entities.

Small businesses that ­suffered direct damage caused by the floods were eligible for grants of up to $50,000, ­including an initial grant of $25,000 to assist with cleaning and reinstatement costs.

Earlier this year the Federal Government announced a commitment of $242 million to flood recovery efforts from the monsoon deluge, which hit Townsville and centres west to Mount Isa in late January and early February.

The funding was provided through the jointly funded Commonwealth-Queensland Disaster Recovery Funding Arrangements.

The State Government's Queensland Rural and Industry Development Authority administered disaster assistance recovery grants and loans.

Of the small business grants, about $6.4 million has been approved in the Townsville local government area.

Also, about $3.9 million in grants have been approved for primary producers in ­Townsville.

Applications for the grants are due to close on August 9.

The Insurance Council of Australia said insurers had ­received 29,950 claims from the monsoon deluge, with losses estimated at $1.24 billion.

Of the claims, the insurance council said more than 42 per cent of home building claims, 55 per cent of contents claims and 76 per cent of motor claims had been closed by insurers.