Syrian earthquake caused $5.1 billion damage: World Bank

Canada Global (Web News) The powerful earthquake that slammed southeast Turkey and northern regions of the war-torn nation last month caused an estimated $5.1 billion in losses in Syria, according to the World Bank.

According to the UN, the earthquake claimed the lives of at least 50,000 people, including roughly 6,000 in Syria. Hundreds of thousands were left homeless, and tens of thousands are still missing.

The World Bank estimates that the damage in Syria amounts to nearly 10% of the nation’s gross domestic product in a report.

Aleppo, in Syria’s north, was the area that was most badly damaged, with damages totaling $2.3 billion and representing 45% of all damages in the country.

Leppo was followed by the government-controlled coastal territory of Latakia, with estimated damages of $549 million, and the northwest province of Idlib, with estimated damages of $1.9 billion.

The earthquake has also exacerbated a number of other issues in Syria, where a nearly 12-year civil conflict has claimed almost 500,000 lives and forced out half of the nation’s 23 million citizens.

World Bank issued a warning, noting that there is still a considerable amount of uncertainty around its initial evaluation.

Jean-Christophe Carret, the Middle East regional director for the World Bank, predicted that the disaster would result in a drop in economic activity that would severely harm Syria’s prospects for economic growth.

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