The Spanish government is to approve on Thursday 50 million euros (65 million US dollars) in grants and loans to help South Asian countries in their reconstruction after they were struck by devastating tsunamis, official sources said Wednesday.

The state-run Fund for Development Aid will provide the 50 million euros.

The grants and loans in preferential financial terms will contribute to the reconstruction of infrastructure facilities destroyed by the tsunamis, said the Industry, Tourism and Trade Ministry.

The sources said a 2-million-euro grant will be used to purchase Spanish materials for reconstruction and technical cooperation and the remaining 48 million euros in low-interest loans will help the tidal wave victims there.