, also abbreviated to in Japanese, was a fund set up by the Japanese government in 1994 to distribute monetary compensation to comfort women in South Korea, the Philippines, Taiwan, the Netherlands, and Indonesia. Approximately ¥600 million ($5 million) was donated by the people of Japan and a total of ¥4.8 billion ($40 million) was provided by the Government of Japan. Each survivor was provided with a signed apology from the prime minister, stating "As Prime Minister of Japan, I thus extend anew my most sincere apologies and remorse to all the women who underwent immeasurable and painful experiences and suffered incurable physical and psychological wounds as comfort women." The fund was dissolved on March 31, 2007. Background On the Japanese general election on July 18, 1993, the Liberal Democratic Party lost government for the first time since 1955. Tomiichi Murayama became Prime Minister on June 30, 1994, and in 1995 the fund, tentatively named "Josei no Tameno Ajia Heiwa Yuko Kikin (the Asian Peace and Friendship Fund for Women). As expressed by Murayama at a press conference on July 18, 1995 the government's goal was defined as following: to deliver two million yen (around US$18,000 depending on the exchange rate used) to each survivor-applicant as "atonement money" raised from the Japanese people, accompanied by letters of apology from the Prime Minister and the AWF president to implement government programs for the survivors' welfare to compile materials on the comfort women for the historical record to initiate and support activities that address contemporary issues of violence against women. The funds raised from the private sector between 1995 and 2000 have amounted to about 448 million yen, while the government is expected to expend about 700 million yen over a ten-year period in order to pay the medical and welfare expenses of individual victims. The government also grants the fund several hundred million yen each year for its operating budget. History The fund was formally established on June 19, 1995. Bunbei Hara was the first president from 1995 to 1999. The fund was set up by the Japanese government and run with state funds, and it was under the direct supervision of the Cabinet and the Ministry of Foreign Affairs. It was a quasi public organization, but it was managed by volunteers who were private citizens. South Korea claimed that state redress was what was required, and that the fund was