Hong Kong okays 256 million dollars for China quake reconstruction
Hong Kong - Hong Kong lawmakers gave the green light Friday for the government to spend 2 billion Hong Kong dollars (256 million US dollars) to finance earthquake reconstruction work in China's Sichuan province.
Some 32 legislators voted to approve the funding application, while seven abstained.
Hong Kong is expected to contribute about 10 billion Hong Kong dollars towards reconstruction efforts. The money will be administered through a government-run trust fund.
Henry Tang, the territory's chief minister, said the cash will be used mainly to rebuild schools, hospitals, orphanages, old people's homes, roads, bridges and the world renowned Wolong giant panda reserve.
The Hong Kong government said its involvement in the post-quake reconstruction work will last up to five years.
Chinese officials estimated that the total cost of reconstruction will be more than 147 billion dollars. This includes cash to rebuild 3.5 million village homes and 1 million homes in urban areas, 16 national and provincial highways roads and six railways. (dpa)