Japan's Cost of Damage Could Reach $309B
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The government in Japan said Wednesday that the cost of rebuilding after the earthquake and tsunami that devastated the island nation could reach $309 billion.
The Japanese Cabinet Office estimated that extensive damage to housing, infrastructure and businesses could total in the range of 16-25 trillion yen ($309 billion).
The World Bank had estimated on Monday that the damage would reach $235 billion, while Goldman Sachs predicted earlier this week the costs would be as much as $200 billion.
The government is planning to pump cash into banks to help support lending as companies attempt to rebuild.
The Japanese Cabinet Office estimated that extensive damage to housing, infrastructure and businesses could total in the range of 16-25 trillion yen ($309 billion).
The World Bank had estimated on Monday that the damage would reach $235 billion, while Goldman Sachs predicted earlier this week the costs would be as much as $200 billion.
The government is planning to pump cash into banks to help support lending as companies attempt to rebuild.
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