According to the statement, the decision was made because of the series of earthquakes that occurred on Wednesday and extreme weather conditions in the regions of Abruzzo, Lazio, Marche and Umbria.
"The Council of Ministers has also analyzed the serious consequences of that seismic activity and weather conditions on agriculture and livestock farming. These sectors will receive immediate support," the statement read.
On the same day, the avalanche in the region of Abruzzo buried the Rigopiano di Farindola hotel with dozens of guests and staff inside. Four bodies have been recovered so far, with up to 29 unaccounted for.
The center and south of Italy has been experiencing extremely low temperatures and blizzards lately. Thousands of households have had their power cut and the access to many towns has been blocked because of the snow.