Japan Govt to Use 130 B. Yen in Reserves for Recovery in Typhoon-Hit Areas
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Tokyo, Nov. 7 (Jiji Press)--The Japanese government will disburse more than 130 billion yen from its budget reserves to help reconstruct areas affected by recent powerful typhoons, Prime Minister Shinzo Abe said Thursday.
Abe made the comments as the government announced a package of measures to support recovery in the daily lives of people and industries affected by Typhoon Faxai, Typhoon Hagibis and other recent disasters. The measures focus on aid to small and midsize companies as well as farmers.
The cabinet is set to approve on Friday the use of the fiscal 2019 budget reserves to finance the package. The government is also considering increasing the amount of spending for disaster reconstruction under a supplementary budget, sources familiar with the matter said.
"We will make the utmost efforts for recovery and reconstruction in collaboration with afflicted local governments by providing seamless financial assistance," Abe told officials at a meeting on disaster responses.
The package includes subsidies to efforts by affected small and midsize companies to jointly restore damaged facilities. Separate subsidies will be provided to finance support given to such firms by prefectural governments in affected areas.
[Copyright The Jiji Press, Ltd.]