Five years to rebuild Japan as cost of earthquake is put at £145billion ✔

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Japan may need five years to recover financially from the earthquake and tsunami, which have caused about £145billion of damage, the World Bank warned yesterday.



The disaster is likely to shave up to 0.5 per cent from the country’s economic growth this year.

‘Damage to housing and infrastructure has been unprecedented,’ the World Bank said in a report.

‘Growth should pick up though in subsequent quarters as reconstruction efforts, which could last five years, accelerate.’



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