• Noto Peninsula Earthquake

Cabinet Approves ¥150 Billion from Reserve Fund to Support Victims of Noto Peninsula Earthquake; Includes Funds to Rebuild Roads and Other Facilities

The Yomiuri Shimbun
Prime Minister Fumio Kishida, center, attends a Cabinet meeting at the Prime Minister’s Office in Tokyo on Friday.

The government decided on Friday it will appropriate ¥155.3 billion from the fiscal 2023 budget reserve fund to support victims of the Noto Peninsula Earthquake at a Cabinet meeting. This fund will be used in part to carry out a support package for rebuilding people’s livelihoods in the quake-hit areas.

This is the second Cabinet approval after the first approval on Jan. 9 for a plan to spend ¥4.74 billion from the fiscal 2023 budget’s reserve fund.

Expected major spending will be on relief measures in affected areas at ¥38 billion, reconstruction works for roads or other facilities at ¥33.7 billion and support for tourism industries, including the so-called Hokuriku support discount program, at ¥10.4 billion.

Of the fiscal 2023 reserve fund, there is a ¥308.4 billion balance in the general account.

The government will flexibly use the ¥155.3 billion with ¥1 trillion from the fiscal 2024 draft budget’s reserve fund.