The fund, which is the largest capital budget for flood risk management in recent years, will be announced by Environment Secretary Lesley Griffiths at a conference later today, 09 March.
In addition, Ms Griffiths will confirm over £144m of capital funding for flood risk management, on top of a £150m coastal programme. A total of £5m will also go towards supporting design/development work for coastal risk management projects.
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Speaking ahead of the National Learning to Live with Flooding in Wales conference, Ms Griffiths said: "Flooding can have a devastating impact on the lives of those affected. We know that climate and weather patterns are continuing to change and as a result flooding is likely to become more frequent. We therefore need to do all we can to reduce the risk to our communities while helping them to adapt to the risks they face which are beyond control.
"I am pleased to confirm we will be providing £32million in 2017-18, our largest capital budget in recent years, to help reduce the risk of flooding to thousands of homes and businesses. This highlights the priority we place on protecting and strengthening communities against flooding."
The Cabinet Secretary will also announced £1m of the flood budget will be ring-fenced each year until 2021 to support smaller scale works and maintenance to be carried out by councils.
This follows the successful trial of a grant scheme to support smaller works, which provided funding for 73 projects to reduce risk to 700 properties across Wales.
(LM/CD)
