Japan's Cabinet approves extra budget to deal with Kyushu quakes' aftermath

The Cabinet of Japanese Prime Minister Shinzo Abe on Friday approved a 778 billion yen (7.13 billion U.S. dollars) extra budget for fiscal 2016 with the funds earmarked for the reconstruction and restoration of regions in the southwest that were battered by earthquakes last month.

The bill will be sent to the Diet later in the day and will clear the lower house on Monday and the upper house on Tuesday, government officials said.

The supplementary budget, which will not be composed by new bond issuance, will use 700 billion yen in reserve funds which can be allocated as per the Cabinet's decision.

The government has already suggested this fund will be made available to help rebuild small and medium-sized businesses, as well as to restore damaged infrastructure and damage caused to agricultural facilities.

The rest of the funds will be used to help the quake-affected people directly by supporting livelihoods, and building and operating temporary evacuation buildings. Endit