How can the reconstruction be financed?


Dhe material damage caused by the devastating earthquakes on February 6 in Turkey amounts to the equivalent of around 103.6 billion dollars and thus nine percent of Turkey’s gross national product forecast for 2023. This emerges from a report by the Turkish Presidential Office, which was published in Ankara on the eve of the international donor conference taking place in Brussels this Monday.

Housing accounts for the largest share at $56.9 billion, followed by $12.9 billion for destroyed public infrastructure and damage to public buildings. Damages to private companies are estimated at $11.8 billion. These include manufacturing, telecommunications, tourism and damage to small businesses and places of worship. Added to this are losses in the insurance sector, loss of income for tradesmen and macroeconomic effects.

Given the extensive damage caused by the quake, the report, prepared in collaboration with the World Bank, UNDP and the EU, recommends a number of changes to building standards and permitting policies, among other things. They are intended to ensure that future buildings, both newly erected and existing ones, are made more earthquake-proof.

3.3 million people missing

In addition, measures are proposed to increase general resilience to natural disasters and reduce the risk of disasters. Citizens, local administrations and public institutions should be involved. Deploying green, nature-friendly solutions is seen as key to a sustainable future to reduce energy demand and build climate-proof infrastructure in line with Turkey’s goal of carbon neutrality in 2053, the report said.

The report proposes measures for economic reconstruction and for psychosocial support for those affected. As a daunting challenge, he cites the massive emigration that has raised fears of a labor shortage, while the number of residents in need of social benefits has increased significantly. Half of the Syrian refugees who enjoy temporary protection already live in the affected provinces.

To date, 48,488 people have been registered in Turkey who have lost their lives. Tens of thousands are still missing. 3.3 million people were displaced and found refuge in other parts of Turkey. Two million people are accommodated in tent camps and container settlements. As emergency relief efforts continue, the Turkish government has announced ambitious reconstruction plans.

The two large earthquakes with a magnitude of 7.7 and 7.6 and hundreds of aftershocks caused destruction in an area of ​​110,000 square kilometers. This corresponds to the area of ​​Bulgaria or almost that of Greece. 14 million people lived in the eleven affected provinces, which was 16.4 percent of the total population. The provinces contributed ten percent to Turkey’s gross domestic product and 8.6 percent to exports.



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