The UK has received £127 million in flood aid to lessen the impact of last summer's floods.
During June and July 2007 severe floods occurred across Yorkshire, Gloucestershire, Worcestershire, Oxfordshire, Berkshire and South Wales - wreaking havoc on local homes and businesses.
Some 13 people are thought to have died as a result, while £3.4 billion worth of damage was caused. Government figures released earlier this week show 4,700 families remain in temporary accommodation.
This number, however, is shown to be in rapid decline.
In response to the flooding - the worst seen in England and Wales for 60 years - the European Union Solidarity Fund has awarded the cash.
It is expected UK authorities will use the money to help meet the costs of restoring roads, water infrastructure and schools, securing dams.
Floods recovery minister John Healey confirmed in a letter to Danuta Hubner, EC commissioner for regional policy, the full amount of the grant would be used to finance emergency operations in the affected regions.
In response Ms Hubner said: "I am pleased to confirm this Solidarity Fund grant is now available, thus ensuring that the EU played its part in helping people in the UK recover from the effects of disastrous floods last year.
"I am grateful to Mr Healey for confirming that the full ?162 million will go into eligible operations. The UK can of course use the grant retroactively for operations it launched from the very beginning of the floods."