December 20, 2013 - 12:53 AM
TOKYO - Japan's government has announced that it will increase the amount of money it's providing to the operator of the crippled Fukushima nuclear plant to step up cleanup and reconstruction efforts.
According to government-adopted guidelines announced Friday, the interest-free loans provided to Tokyo Electric Power Co. will be increased to 9 trillion yen ($90 billion), up from 5 trillion yen. The government also said it would try to recoup 3.6 trillion yen through the sale of TEPCO shares or other schemes.
Originally, TEPCO was to be liable for all costs stemming from the 2011 meltdowns at the Fukushima Dai-ichi plant. But in September, the government decided to step in and provide financial help after contaminated water leaks and other mishaps triggered public concern about TEPCO's ability to manage the situation.
News from © The Associated Press, 2013