Sichuan short on finances for reconstruction

NANNING, Guangxi: The reconstruction of earthquake-ravaged Sichuan province is likely to cost 700 billion yuan ($102 billion) more than is available through government investment and credit financing, the provincial government said yesterday.

The rebuilding of the province will cost around 1.7 billion yuan in the coming three years, said Cai Jing, deputy secretary-general of the Sichuan provincial government.

Government investment will total 300 billion yuan and credit financing will account for about 600 billion yuan but much more money will be needed, Cai said at the 5th Pan-Pearl River Delta (Pan-PRD) Regional Cooperation and Development Forum, which opened in the southwestern city of Naning, Guangxi Zhuang autonomous region, yesterday.