A man walks through the rubble in Uonuma, Niigata Prefecture

It is the first time the prefectural government has released an estimate of the financial damage caused by the temblors that hit the prefecture Oct. 23 and left 40 people dead.

Izumida told the day's plenary session of the prefectural assembly that the prefecture might establish a quake recovery fund and would continue to press the central government to enact special legislation to assist in relief and reconstruction efforts.

He said the quake was expected to adversely affect the economy of the entire prefecture.

He said the prefecture was trying to gain approval to issue prefectural bonds and would persuade financial institutions to purchase them.

Izumida said the prefecture's coffers will not be able to support reconstruction efforts. He said he hoped the central government would enact legislation similar to that drawn up after the Great Hanshin Earthquake of January 1995.

The Japan Times Weekly: Nov. 27, 2004
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