BEIJING - China's Ministry of Finance (MOF) said Friday the country has allocated 340 million yuan ($53.80 million) for regions plagued by floods and droughts.

The fund, allocated by the MOF and the Ministry of Water Resources, will be spent on repairing flood-damaged water conservancy facilities in Jiangxi province, supporting flood control in southern provinces and helping drought relief in Henan province, the MOF said in a statement on its website.

Recent floods triggered by strong downpours have affected many parts of China, including Jiangxi, Sichuan, Chongqing and Fujian.

The State Flood Control and Drought Relief Headquarters has dispatched working groups to Sichuan, Chongqing, Shaanxi, Jiangsu and Anhui to help coordinate flood relief efforts.