Venezuela earthquake damages add up to almost $20 billion, World Bank says
The assessment covers buildings and infrastructure only, and the World Bank said reconstruction could take more than a decade without more public funding.
- On Thursday, The World Bank estimated that twin earthquakes in Venezuela caused at least $19.6 billion in direct physical damage, representing about 18% of the country's GDP.
- The June 24 natural disaster resulted in at least 5,398 deaths and 16,740 injuries, with La Guaira and Caracas suffering roughly half of the total damage and residential buildings sustaining $9.3 billion in losses.
- Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean, stated a five-year reconstruction is possible if Venezuela mobilizes $9.8 billion in public and $9.6 billion in private financing.
- Without new investments, reconstruction will take over a decade, according to the report, while The United Nations has launched an urgent appeal for nearly $300 million to provide aid to 1.3 million people.
- Following the ouster of Nicolas Maduro, economic recovery remains complex, with President Donald Trump recently boasting that the United States is "making a lot of money" from Venezuelan oil.
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Venezuela’s Minister Garcés: 6,907 Buildings Evaluated in La Guaira
Venezuelan Transport Minister and President of the Infrastructure Habitability Evaluation Commission, Francisco Garcés, has reported that 6,907 buildings have been evaluated so far in the state of La Guaira in the aftermath of the June 24 earthquakes. Garcés explained that as of this Wednesday, July 22, 3,237 structures received a green label, indicating they are structurally safe and habitable without risk to residents, while 1,785 structures r…
Washington. The World Bank (WB) reported yesterday that the two earthquakes that shook Venezuela on June 24 caused direct material damage worth $19.6 billion, but the cost of reconstruction could be double or even more, according to its preliminary assessment.
The payments caused by the two earthquakes that hit Venezuela in June are estimated at about $20 billion, according to a preliminary assessment published by the World Bank. The institution warns that the country's recovery will be difficult without rapid and consistent investment.
Venezuela Earthquake Damage Hits $19.6 Billion
The World Bank has estimated that direct physical damage from the twin earthquakes that struck Venezuela on June 24, 2026, totals approximately US$19.6 billion, a figure representing about 18% of the country's gross domestic product. The post Venezuela Earthquake Damage Hits $19.6 Billion appeared first on The Rio Times.
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