Turkey and Syria earthquake: The World Bank estimates $5.1 billion in losses in Syria

[ad_1]

The World Bank said Syria suffered an estimated $5.1 billion ($8.1 billion) in losses in the devastating earthquake that struck southeastern Turkey and northern parts of the war-torn country last month.

The earthquake killed at least 50,000 people, including about 6,000 in Syria, according to the United Nations. Tens of thousands are still missing and hundreds of thousands have been displaced.

In a report released on Friday, the World Bank said the level of damage in Syria is about 10 percent of the country’s gross domestic product.

Aleppo governorate in northern Syria was the most affected area, causing 45 percent of the total damages in Syria and damages amounting to about $2.3 billion ($3.6 billion). The rebel-held region in the northwest, home to some 4.6 million people, many of whom were previously displaced by the Syrian war, has also been badly affected.

Announced with NZME A man rides a bicycle near destroyed buildings in Antakya, southeastern Turkey. photo/AP

Aleppo was followed by the northwestern province of Idlib, with an estimated $1.9 billion ($3 billion) in damages and Latakia, a government-held area on the coast, with $549 million ($882 million).

The earthquake also compounded myriad other problems in Syria, where a nearly 12-year civil war has killed nearly half a million people and displaced half of the country’s pre-war population of 23 million.

A man walks past destroyed buildings in Antakya, southeastern Turkey. photo/AP

The World Bank cautioned that there remains a large degree of uncertainty around its initial assessment.

“The catastrophe will lead to a decline in economic activity, which will further affect the growth prospects in Syria,” said Jean-Christophe Carret, Head of the World Bank’s Middle East Department.

Advertise with NZME.

The damages assessed in the report include both the residential and non-residential sectors, such as direct damage to buildings and facilities, as well as damage to cultural heritage sites, which are particularly difficult to qualify.

In a previous assessment report, the World Bank said damage in Turkey from last month’s earthquake was estimated at $34.2 billion ($54.9 million).

[ad_2]