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TURKEY

World Bank estimates quake damage at $34 bn

Furniture in an apartment torn apart by the earthquake of Feb. 6 in Antakya, Turkey. (Credit: Mohamad Yassin/L'Orient Today)

The devastating Feb. 6 earthquake and aftershocks that hit southern Turkey have caused damage worth over $34 billion in the country, the World Bank (WB) said on Monday.

The amount is equivalent to four percent of Turkey's GDP in 2021, the WB said. The estimate does not account for the costs of reconstruction that were "potentially twice as large," they stated.

The estimate also fails to account for the damage caused in northern Syria, which was particularly affected by the earthquake.

The WB estimate of the costs inflicted by the earthquake in Syria will be released on Tuesday.

They also warned that the continuing aftershocks are likely to increase the damage caused by the disaster.

"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 WB Country Director for Turkey.

The WB also estimates that 1.25 million people have been made temporarily homeless.

It added that direct damage to residential buildings accounted for 53 percent of the estimate, with 28 percent of damage seen in non-residential buildings and the rest in infrastructure such as roads and bridges.

The devastating Feb. 6 earthquake and aftershocks that hit southern Turkey have caused damage worth over $34 billion in the country, the World Bank (WB) said on Monday.

The amount is equivalent to four percent of Turkey's GDP in 2021, the WB said. The estimate does not account for the costs of reconstruction that were "potentially twice as large," they...