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Japan OKs 6.5 tril. yen recovery program for quake-hit regions
TOKYO (Kyodo) -- Japan on Wednesday approved a 6.5 trillion yen ($52 billion), five-year program to assist the recovery of areas hit by the 2011 earthquake and tsunami in northeastern Japan.
Local governments in Iwate, Miyagi and Fukushima prefectures are expected to bear about 22 billion yen and the remainder will be covered by the central government in the five-year period starting in April 2016, according to officials.
It marks a policy shift by the central government because it has shouldered all the costs for reconstruction projects thus far.
The central government has cited the need to consolidate the debt-ridden state finances and encouraged disaster-hit regions to promote reconstruction without relying too much on the state.
http://mainichi.jp/english/english/newsselect/news/20150625p2g00m0dm030000c.html
