China central bank provides $785 mn for quake-hit areas

May 14th, 2008 - 4:53 pm ICT by admin  

Beijing, May 14 (Xinhua) People’s Bank of China (PBOC) Wednesday announced that it would provide 5.5 billion yuan ($785.86 million) to carry out relief work in the quake-hit areas of Sichuan and Gansu provinces. Sichuan Province will get 3.3 billion yuan and Gansu Province will get 2.2 million yuan.

A 7.8-magnitude quake jolted the Wenchuan County, some 159 km north-west of the Sichuan capital of Chengdu Monday. According to government estimate, 15,000 people have been killed in the aftermath. The authorities are still trying to rescue people trapped under the debris of collapsed buildings.

Su Ning, vice governor of the PBOC, said the government treasury system was functioning smoothly and 1.36 billion yuan had been appropriated to quake-hit areas for disaster relief work Tuesday.

The PBOC urged its local branches Tuesday to closely cooperate with the finance and civil affairs departments to guarantee timely allocation of disaster relief funds. Branches were urged to ensure adequate cash supplies.

The central bank said it would cooperate with the public security and transportation agencies to ensure safe transport of cash.

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