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3/11 survivors may struggle to repay loans

loan 08 dec 2017.jpg
Many people in areas of Japan hit by the 2011 earthquake and tsunami worry that they may have trouble repaying loans extended by local governments to help in rebuilding their lives.
 
Municipalities can lend up to 31,000 dollars to each household affected by disasters.
 
The Cabinet Office says that as of the end of October, municipalities have lent some 460 million dollars in over 29,000 cases related to the March 11th disaster.
 
Three prefectures were hit hardest by the disaster. Households in Miyagi were lent the most at about 360 million dollars. Fukushima came next at roughly 52 million dollars and those in Iwate received some 24.6 million dollars.
 
As of the end of October, nearly 90 percent of planned public housing units for disaster survivors had been completed in the 3 prefectures.
 
But pensioners and people whose income has dropped since the disaster worry about their ability to pay off the loans. Repayment periods began this month.
 
Many people used the lending system after the 1995 Great Hanshin Earthquake in western Japan. Roughly 27.5 million dollars in loans have not been repaid in Kobe City.

 

December 10, 2017 Posted by | Fukushima 2017 | , , | Leave a comment