According to the World Bank, the devastating earthquake that struck southern Turkey on February 6 and its aftershocks had caused the country more than $34 billion in damages.
The estimate does not take into account the costs of reconstruction, which were “potentially twice as large,” according to a statement from the Washington-based institution. The sum is equal to 4% of Turkey’s GDP in 2021.
A World Bank estimate of the costs there is set for release on Tuesday. The estimate also neglects the damage caused in northern Syria, which was also severely affected by the earthquakes.
The World Bank issued a warning that the disaster’s overall damage is likely to rise due to the ongoing aftershocks.
“This disaster serves as a reminder of Turkey’s high risk to earthquakes and of the need to enhance resilience in public and private infrastructure,” said Humberto Lopez, the World Bank Country Director for Turkey.
According to estimates from the World Bank, residential building damage has resulted in the temporary homeless of 1.25 million individuals.
It also noted that residential structures accounted for 53% of the estimated direct damage, while non-residential buildings sustained 28% of the damage and infrastructure like roads and bridges took the remaining 33%.
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