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Home >> Business
UPDATED: 11:13, November 25, 2006
China earmarks another 1.67 bln yuan for disaster relief
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The Chinese central government has earmarked another 1.67 billion yuan (213 million U.S. dollars) for victims of disasters to make sure they get safely through the winter, said the Finance Ministry in Beijing on Friday.

Since the beginning of the year, 4.9 billion yuan (624 million U.S. dollars) of emergency disaster-relief funding has already been allocated to disaster-hit regions, the ministry said.

China suffered a volley of natural disasters this year, the worst year since 1998. Disasters included floods, mud slides and rock falls caused by the typhoons has swept through the country, leaving over 2,000 dead, more than five hundred missing, millions of people homeless and economic losses of around 200 billion yuan (25.5 billion U.S. dollars).

Funds to rebuild houses for victims are largely managed by local governments, who also help victims apply for bank loans.

China has urged local governments to finish rebuilding two million houses damaged or destroyed in natural disasters before the Spring Festival, or China's Lunar New Year, in February next year.

As winter approaches, China has opened green channels at toll gates for vehicles transporting relief materials to disaster-affected areas.

Source: Xinhua


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