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Japan looks at private funds for quake-hit areas: Nikkei
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Japan looks at private funds for quake-hit areas: Nikkei
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(Reuters) - The Japanese government and the Democratic Party of Japan (DPJ) are evaluating options to redevelop the areas hit by the earthquake in March through property securitizations and public-private partnerships, business daily Nikkei...
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Mon May 9, 2011 3:17pm EDT
(Reuters) - The Japanese government and the Democratic Party of Japan (DPJ) are evaluating options to redevelop the areas hit by the earthquake in March through property securitizations and public-private partnerships, business daily Nikkei said.
The country aims to redevelop these areas efficiently to decrease its fiscal burden, the paper reported.
The government is looking at acquiring properties in urban shopping districts which can be developed into commercial facilities and higher ground areas into residential properties. Private financing may be sought to build infrastructure, the Japanese newspaper said.
Some officials have also mooted a reconstruction fund, financed by both the government and the private sector, the Nikkei reported.
(Reporting by Rachana Khanzode in Bangalore; Editing by Joyjeet Das)
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