Tag Archives: Japan Reconstruction Budget

Where Japans Rebuild Cash Really Went

About a quarter of the US$148 billion budget for reconstruction after Japan’s March 2011 tsunami and nuclear disaster has been spent on unrelated projects, including subsidies for a contact lens factory and research whaling.

The findings of a government audit buttress complaints over shortcomings and delays in the reconstruction effort. More than half the budget is yet to be disbursed, stalled by indecision and bureaucracy, while nearly all of the 340,000 people evacuated from the disaster zone remain uncertain whether, when and how they will ever resettle.

Many of the non-reconstruction-related projects loaded into the 11.7 trillion yen budget were included on the pretext they might contribute to Japan’s economic revival, a strategy that the government now acknowledges was a mistake.

Read the rest of the story: Where Japans rebuild cash really went.