World Bank Estimates $34bn Of Damage Caused By Recent Turkey Earthquake

On January 24, 2021 a devastating earthquake rocked the city of Izmir in Turkey, leaving thousands dead or injured and causing billions of dollars in damage. In the aftermath of the quake, the World Bank released an estimate stating that the total economic damages from this disaster would amount to $34 billion. This includes not only physical destruction and casualties, but also indirect economic losses due to economic activity being disrupted. In this blog post, we’ll explore what these estimates mean for Turkey and how they could affect its recovery process as well as how other countries may be able to help. We’ll also look at some of the other issues raised by this tragedy, such as housing shortages and potential long-term impacts on local economies.

World Bank estimates $34bn of damage caused by recent Turkey earthquake

According to World Bank estimates, the recent earthquake in Turkey has caused $34bn worth of damage. The quake struck on August 17, killing over 1,000 people and injuring around 10,000. It was the deadliest earthquake to hit Turkey in over a decade.

The World Bank has released $500 million in emergency aid to help with relief efforts. The money will be used to provide food, water, and shelter for those affected by the disaster. It will also be used to rebuild infrastructure and homes.

This is a devastating blow to an already struggling economy. The Turkish lira has lost nearly 30% of its value this year, and inflation is at a 16-year high. This earthquake will only add to the country’s woes.

Earthquake in Turkey: what happened?

A 7.5 magnitude earthquake hit Turkey on October 23, 2011, causing widespread damage. The World Bank estimates that the quake caused $2 billion of damage, making it one of the most costly natural disasters in Turkish history.

The earthquake struck near the city of Van, in eastern Turkey, and was followed by more than 1,000 aftershocks. The tremors were felt as far away as Istanbul and Ankara. More than 600 people were killed and 4,152 injured. More than 150,000 homes were destroyed or damaged.

The Turkish government has set up a fund to help rebuild homes and infrastructure. The World Bank is providing $400 million in emergency financing to help with relief efforts.

The aftermath of the earthquake in Turkey

The earthquake in Turkey has caused an estimated $bn of damage, according to the World Bank. The figure is based on a preliminary assessment of the damage caused by the earthquake and its aftershocks.

The World Bank estimates that the earthquake has caused damage to infrastructure, buildings and homes, as well as loss of life and displacement of people. The majority of the damage is concentrated in the city of Van and the surrounding area.

The World Bank is working with the government of Turkey to provide support for relief and recovery efforts. This includes providing financial assistance and technical expertise. The World Bank is also supporting disaster risk reduction efforts in Turkey, which will help reduce the impact of future earthquakes.

How can you help those affected by the Turkey earthquake?

The World Bank has released a report estimating that the damage caused by the recent earthquake in Turkey could amount to $2 billion. The estimate includes both the direct damage to buildings and infrastructure, and the indirect economic losses that are expected to result from the disruption to business and trade.

The World Bank is working with the Turkish government to assess the needs of those affected by the earthquake and to identify the most effective ways of providing assistance. In the meantime, there are a number of ways in which people can help those affected by the disaster:

• Donate to relief agencies such as Red Cross or Oxfam who are helping with the relief effort in Turkey.

• Give blood or money to support medical assistance for those injured in the earthquake.

• Help with rebuilding efforts once the immediate emergency response has been completed. This could involve donating money or time, or providing skills or expertise that would be helpful in reconstruction work.

Conclusion

The recent earthquake in Turkey left a devastating trail of destruction, with the World Bank estimating that $34bn worth of economic damage has been caused. This is a huge amount of money and will no doubt take some time for the country to fully recover from. We must remember that this economic damage does not measure the full cost of the disaster – it cannot account for all the lives lost, buildings destroyed and individuals affected by this terrible event. Therefore, we should continue to extend our support to those who have been affected in any way we can.