The additional money will help restore flood defences that were badly damaged by the unprecedented rainfall that hit the Aberystwyth area in less than a 24 hour period in June.
The Minister confirmed that the money would be spent on repairing damaged defences, removing shoal and reinstating rivers to their original channels.
The Minister said:
“This summer Wales was hit by the highest level of rainfall experienced since 1910. Aberystwyth was particularly badly hit and experienced a month’s rain fall in less than a 24 hour period. As we know only too well this resulted in one of the worst flooding events that Wales has seen in a number of years.
“I visited the area at the time of the floods and saw for myself the damage and devastation that had been caused by this freak weather event. I was one of many impressed by the incredible community spirit evident in the clean up operation.
“I know there is still much to do but I am pleased to be able an allocate an additional £440,000 to repair crucial flood defences that will help to protect the area from future heavy rainfall."
Reports on the summer’s floods show that the volume and velocity of river flows was such that rivers broke their banks, overtopped defences and flowed along roads, through communities and across agricultural land.
The Environment Minister recently announced an additional £10 million for flood and coastal risk management over 2013/14 – 2014/15. This takes investment in flood and coastal erosion risk management to £150 million over the life of this Assembly.