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World Bank estimates US$ 34 billion in earthquake damage in Turkey

World Bank estimates US$ 34 billion in earthquake damage in Turkey

The World Bank estimated this Monday at US$34 billion the economic cost of the damage caused in Turkey by the strong earthquakes that devastated the southeast of the country at the beginning of the month, although it warned, in a report, that reconstruction could cost twice as much. that figure.

The report acknowledges that the costs of salvage and reconstruction will be much higher (than those caused by the damage), potentially twice as large, and that the associated Gross Domestic Product (GDP) losses will add to this cost.”, explained the institution in a statement.

The development bank also warned that the successive aftershocks will surely make these estimates grow.

Of the cataloged damages, a little more than half -some US$ 18,000 million- refer to the damage caused to residential buildings. The World Bank estimates that around 1.25 million people were temporarily left homeless due to damage to their homes.

The institution already announced on February 9 an initial aid package of US$ 1.780 million to help in the reconstruction and rescue efforts.

The earthquakes of the past day 6, of magnitude 7.7 and 7.6, have caused more than 44,000 deaths in Turkey alone. In Syria, which was also hit by the quakes, nearly 6,000 deaths have been recorded.

Those extraordinarily strong tremors may have caused a readjustment of several tectonic plates that are now manifested in moderate earthquakes in neighboring areas.

Source: EFE

Source: Gestion

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