Victoria pledges more financial support as state continues to deal with developing flood emergency.

While floodwaters are receding slowly across much of the state, more rain is expected towards the end of the week and into the weekend.

CFA crews work to sandbag Campaspe Esplanade in the town of Echuca, Victoria. Source: AAP / BRENDAN MCCARTHY

The situation in Shepparton has settled but flood waters are still high, and so it's too early to start the clean up.

Efforts are now focused an hour north west, as Echuca residents prepare for a second flood in a matter of days.

Locals there are continuing to build a kilometres-long levee to try and protect the town centre and potentially thousands of homes.

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