On Friday, the Japanese government approved an additional ¥106.8 billion ($710 million) from reserve funds allocated within its fiscal 2024 budget to provide disaster relief to regions affected by the Noto Peninsula earthquake, which took place on January 1, 2024.

This aid represents the government's eighth package of relief funding specifically dedicated to addressing the massive damage caused by the magnitude 7.6 earthquake in Ishikawa Prefecture. With this latest contribution, the government's total financial assistance to affected regions has now surpassed ¥820 billion.

Of the newly allocated funds, ¥50 billion will go toward a novel grant system specifically created to assist rebuilding efforts in impacted areas. The establishment of this system was formalized during a government task force meeting for the reconstruction effort, prior to the Cabinet's approval. The Ishikawa Prefectural Government advocated for this arrangement, which is intentionally designed to remain flexible, enabling swift adaptation to emerging needs and priorities within the affected communities.

In addition to the reconstruction grants, the government plans to invest ¥42.3 billion in disaster-related waste disposal, alongside ¥14.6 billion earmarked for the repair and restoration of essential infrastructure such as roads, ports, and other public facilities.