Flooding in Midleton, Co Cork, has been described as "apocalyptic", after a month's rain fell in less than 24 hours yesterday.
Tánaiste Micheál Martin and Minister for Trade, Enterprise and Employment Simon Coveney, who are both from Co Cork, said the Government will provide support through its Humanitarian Assistance Scheme.
Mr Coveney said the flooding has "caused carnage" across the county, while Minister for the Environment Eamon Ryan said his "heart goes out to all the residents and businesses" affected by Storm Babet.
Minister Coveney's department confirmed that he will bring a memo to Cabinet next week on payments to businesses affected by the flood in east Cork.
He will seek approval to activate the scheme once his department receives final estimates of the damage and the number of businesses affected from the Department of Housing, the Department of Trade, Enterprise and Employment said in a statement.
Independent councillor for East Cork Liam Quaide said the scenes of flooding in Mill Street and Main Street in Midleton were "apocalyptic".
He said he and other family members got stranded for several hours with many other local residents on the outskirts of town as both roads home were off limits.
"We tried a couple of perilous detours and had to turn back," he said.
"The scenes of devastation in Midleton (are) an ominous sign of what is ahead of us as a nation if we don't double down on climate mitigation and adaptation.
"I'd like to commend the heroic work of Cork County Council staff, the fire service and Civil Defence Forces who worked around the clock evacuating and providing assistance to many people in distress."
A decision was due to be made later on whether to evacuate around 30 patients from the community hospital in Midleton.
Chief Officer for the Cork Kerry Community Healthcare Area Tess O'Donovan said some residents were moved to other areas of the hospital campus last night because of the flooding.
Speaking on RTÉ's Morning Ireland, she said patients were moved after the front part of the building was affected.
It was a difficult time for residents and their families, Ms O'Donovan added.
She said the damage on site appears to be significant.
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Ms O'Donovan said residents at the nearby Owenacurra Centre were moved to local hotels and an assessment of the site will take place today, along with one for the McCauley Centre where residents and staff were stuck inside until yesterday evening.
Principal of Midleton Educate Together National School Rhodri Mears said pupils and staff had to be evacuated from the school yesterday.
On the same programme, he said: "We were very, very fortunate that a parent who has a tractor and a trailer came to the rescue of our staff as well, was able to drive them beyond a flood and staff were able to get them a lift from the other side of the flooding to their homes."
The school is closed today, he said.
"We have such a large catchment area that travelling to Midleton just was too treacherous with all the roads impacted."
The Director of Services at Waterford City and County Council said there was significant amounts of rainfall in the west of the county yesterday.
Fergus Galvin said the scale of the flooding in the area is "unprecedented" in the last 30 or 40 years.
Additional reporting PA