World Bank estimates Syria’s reconstruction costs at $216 Billion

The World Bank released a report today estimating the cost of Syria’s reconstruction at approximately $216 billion, following more than thirteen years of war that caused widespread destruction to infrastructure and severely impacted the economy.

The report, covering the period from 2011 to 2024, reveals that the conflict damaged about one-third of Syria’s capital stock prior to the outbreak of war. Direct physical damage to infrastructure and residential and non-residential buildings is estimated at nearly $108 billion, including $52 billion attributed solely to infrastructure.

The World Bank highlighted that the cities of Aleppo, rural Damascus, and Homs suffered the most extensive damage due to battles and sieges during the early years of the conflict. The estimated reconstruction cost amounts to roughly ten times Syria’s projected GDP for 2024.

According to the report, rebuilding costs for damaged assets could range between $140 billion and $345 billion, with a median estimate of $216 billion. This total is broken down into $75 billion for residential buildings, $59 billion for non-residential facilities, and $82 billion for infrastructure.

Jan-Christophe Carret, the World Bank’s Regional Director for the Middle East, stated: “The challenges are immense, but the World Bank is ready to work with the Syrian people and the international community to support recovery and reconstruction efforts.”

Previously, the United Nations estimated in 2018, after a significant reduction in conflict intensity, that the cost of destruction in Syria exceeded $400 billion.

ANHA