The World Bank estimated on Tuesday that the cost of rebuilding Syria will be approximately $216 billion, following more than 13 years of war that devastated the country and inflicted severe damage to its infrastructure and economy.
This was stated in a report issued by the bank entitled "Syria Physical Damage and Reconstruction Assessment (2011–2024)."
The report stated that approximately one-third of Syria's fixed productive assets (such as factories, buildings, machinery, electricity and water networks, etc.) have been damaged since the outbreak of the war.
The value of direct physical losses to infrastructure, residential and non-residential buildings, amounted to approximately $108 billion.
The report indicated that infrastructure was the most severely affected, accounting for approximately 48 percent of the total damage, valued at $52 billion, followed by residential buildings at $33 billion, and non-residential buildings at $23 billion.
The report indicated that the governorates of Aleppo, Rural Damascus, and Homs were the most affected areas in terms of the extent of destruction.
The report indicated that the costs of rebuilding Syria could range between $140 and $345 billion, with a median estimate of $216 billion.
These estimates include approximately $75 billion for residential buildings, $59 billion for non-residential buildings, and $82 billion for infrastructure, noting that Aleppo and Rural Damascus governorates will require the largest investments for reconstruction.
The report quoted Jean-Christophe Carré, World Bank Director for the Middle East, as saying, "The challenges ahead are enormous, but the Bank stands ready to work alongside the Syrian people and the international community to support recovery and reconstruction efforts."
Carré added, "Collective commitment and coordinated action are essential to help Syria on its path to long-term development."
The report indicated that reconstruction costs are approximately ten times Syria's projected GDP in 2024, reflecting the magnitude of the economic challenge facing the country.
The report indicated that Syria's real GDP declined by approximately 53 percent between 2010 and 2022, while nominal GDP shrank from $67.5 billion in 2011 to a projected $21.4 billion in 2024, according to a macroeconomic assessment of Syria issued earlier this year.
For his part, Syrian Finance Minister Mohammad Yusr Barnieh said the report "provides a baseline for understanding the scale of the massive destruction and the costs of reconstruction."
He called on the international community to "mobilize efforts to help Syria restore its basic infrastructure, revive its communities, and lay the foundations for a more resilient future."
Anadolu Agency
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