The World Bank has slated roughly $1.8 billion of funding to Turkey and is pursuing relief aid for Syria, following last week's devastating earthquakes.
Turkish and Syrian reconstruction efforts in the wake of devastating twin earthquakes last week will cost "in the billions of dollars," according to Ferid Belhaj, World Bank vice president for Middle East and North Africa.
Hulya Bayrak is rescued from rubble of collapsed building 116 hours after earthquakes, on February 10, 2023 in Turkey's Hatay.Turkish and Syrian reconstruction efforts in the wake of devastating twin earthquakes last week will cost "in the billions of dollars," according to Ferid Belhaj, World Bank vice president for Middle East and North Africa.
The non-governmental Turkish Enterprise and Business Confederation estimates that the twin earthquakes led to total losses of nearly $84.1 billion to the Turkish economy. Comparatively, the 1999 earthquake of Marmara that struck the city of Izmit and killed over 17,000 people, resulted in $51.1 billion of losses.
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