Taiwan Allocates $878 Million for Earthquake Recovery Efforts

Following a severe 7.4 magnitude earthquake, Taiwan's government commits substantial funds to aid recovery and reconstruction.

Taiwan's cabinet approved approximately $878 million for relief efforts after a devastating earthquake last month resulted in 17 deaths and significant infrastructural damage.
The funds are part of the '0403 Earthquake Recovery and Reconstruction Plan', aiming to repair public facilities, and assist in the resettlement and rebuilding of private homes.
An additional allocation will support industrial revitalization and provide insurance subsidies and employment assistance.
Strict building codes and disaster preparedness measures are credited with preventing greater loss of life and damage.
The recovery plan comes as Taiwan prepares for the inauguration of its new president, Lai Ching-te, later this month.