Manitoba flood victims are set to receive $175 million from the provincial government in compensation for damage caused by the overflowing Assiniboine River and Lake Manitoba.

Property owners who were affected by deliberate flooding near the Hoop and Holler bend on the Assiniboine River will be reimbursed 100 per cent, including evacuation costs, lost wages and property damage, the province says.

Cottage owners on Lake Manitoba will also be compensated, but with some limits.

The province is also pledging $20 million to improve flood protection in Brandon, Man. and another $20 million to bolster dikes along the Assiniboine River.

The Manitoba government made the controversial decision to intentionally drain water from the Assiniboine River to protect hundreds of homes last Saturday, May 14.

The planned breach of the river was to protect about 850 homes and an area of 500 square kilometres.

About 4,000 Manitobans were forced from their homes.

The Manitoba government says it will spend $175 million to compensate people and restore infrastructure damaged by flooding.

The province says property owners who were affected by a deliberate flood near the Hoop and Holler bend on the Assiniboine River will be reimbursed 100 per cent.

Evacuation costs, lost wages and property damage are included -- with no caps or deductibles.

Cottage owners on Lake Manitoba will be offered similar aid, but there will be some limits.

The government is also promising to spend $20 million to improve flood protection in Brandon, and another $20 million to boost dikes along the Assiniboine River.

The province also says it will pay 90 per cent of the cost of raising or moving cottages along Lake Manitoba and expects about 600 buildings to be part of that effort.