Japan Supplementary Budget to Fund Post-quake Reconstruction

The Tokyo metropolitan government will compile a fiscal 2011 supplementary budget worth some 100 billion yen in the wake of the March 11 earthquake and tsunami that hit northeastern Japan, Tokyo Governor Shintaro Ishihara said Tuesday.

The extra budget will include funds to buy equipment to be used at metropolitan government-owned public housing to accommodate evacuees from the disaster-hit areas, Ishihara told a news conference.

The budget will also feature resources for loans to smaller companies to be hit hard by Tokyo Electric Power Co.’s <9501> rolling blackouts launched after the disaster to deal with its falling output capacity.

The Tokyo government will team up with the three hardest-hit prefectures of Iwate, Miyagi and Fukushima to launch a special lottery this summer to generate resources for the reconstruction of areas hit by the quake and tsunami.

The metropolitan government expects that the lottery sales will reach about one billion yen.

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