World Bank estimates earthquake in Turkey caused $34.2 billion in damage; rebuilding may cost double

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World Bank estimates earthquake in Turkey caused $34.2 billion in damage; rebuilding may cost double
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The deadly earthquake in Turkey earlier this month caused an estimated $34.2 billion in damage, according to the World Bank, and may cost twice that to rebuild.

earthquake in Turkey

The estimated $34.2 billion comes in the form of "direct damages" – an equivalent of 4% of the country's GDP in 2021, theThe recovery and reconstruction cost could be potentially twice as large, according to the bank.

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