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Natural Resources Minister Alun Davies said the funding followed one of the wettest years on record for Wales.
An additional £10 million is to be spent on improving flood and coastal defences in Wales' most at risk communities.
Natural Resources Minister Alun Davies says a £76.5million funding package - for housing, schools and transport, as well as flood protection - will support around 1,400 jobs and boost economic growth
The extra £10million will help fund flood and coastal risk management schemes across Wales, including:
£5m to help protect over 215 homes and businesses in the Colwyn Bay community, as well as the A55 and North Wales mainline railway
£2m to extend work on the proposed flood risk management scheme for Mold
£1m for a further phase of work to reduce the risk of coastal erosion and flooding in Borth