World Bank Estimates Syria’s 3-Year Earthquake Recovery Needs at $7.9 Billion

Salam Mahmoud, a volunteer at the Syria Civil Defence (White Helmets), walks with other volunteers on the rubble of a building, that was damaged by last month's devastating earthquake, in rebel-held al-Maland village, in Idlib province, Syria, on March 5, 2023. Khalil Ashawi/Reuters

WASHINGTON—The World Bank on Monday said the February earthquakes are expected to have caused Syria’s real GDP output to contract by 5.5 percent in 2023, with recovery and reconstruction needs estimated at $7.9 billion over three years.

The World Bank said its Rapid Damage and Needs Assessment report estimates the earthquakes that hit northern and western Syria on Feb. 6 and Feb. 20 caused physical damage of $3.7 billion in the country, with another $1.5 billion in economic losses for a combined damage impact of $5.2 billion.