The World Bank: 5 billion dollars in earthquake losses in Syria

ARK News… The World Bank on Friday, announced, that Syria incurred losses estimated at 5.1 billion dollars as a result of last month's devastating earthquake.

The United Nations said the earthquake killed at least 50,000 people, including about 6,000 in Syria. Tens of thousands are still missing, and hundreds of thousands have been displaced.

The World Bank said in the report issued Friday that the level of damage in Syria is about 10 percent of the country's gross domestic product.

Aleppo governorate, located in northern Syria, was the most affected area, as its share of the total damage in the country was 45 percent, with a value of about $2.3 billion. The opposition-held region in the northwest, home to some 4.6 million people, was also badly affected.

This was followed by Idlib governorate, with a damage value of about $1.9 billion, then Latakia, with a damage value of $549 million.

However, the World Bank warned that there was still a large degree of uncertainty about its initial assessment of the damage.

"The disaster will lead to a decline in economic activity, which would have a greater impact on growth prospects in Syria," said Jean-Christophe Carré, Head of the Middle East Department at the World Bank.

The damages listed in the report include both the residential and non-residential sectors, such as direct damage to buildings and facilities, as well as damage to cultural heritage sites that are particularly difficult to rehabilitate.

The bank said in a previous assessment report issued on Monday that damages in Turkey as a result of last month's earthquake were estimated at $34.2 billion.

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