World Bank estimates earthquake damage in Turkey at $34 billion
The institution ensures that the damage caused by the telluric movement could double
The World Bank estimated the damage caused by the earthquakes that devastated southeastern Turkey earlier this month at about $34 billion. However, the institution warns that the real cost of reconstruction could double that figure.
The World Bank report notes that damage to residential buildings accounts for more than half of the estimated costs and that around 1.25 million people were temporarily homeless due to the quake. In addition, the institution warns that the replicas could further increase the cost estimates.
The World Bank has already announced an initial aid package of $1.78 billion to assist rescue and reconstruction efforts in the affected area.
The quakes, with magnitudes 7.7 and 7.6, caused more than 44,000 deaths in Turkey and nearly 6,000 in Syria, which was also hit by the quakes. The natural disaster has had a significant impact on the local economy, so the authorities are working hard to recover the area and provide support to the victims and affected communities.
The extent of the damage and loss of life is a major concern for the international community, which has come together to support the region and help people recover from the tragedy. The World Bank is committed to providing the assistance necessary for the region to recover as quickly as possible.
(Reference image source: Çağlar Oskay, Unsplash)
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