Venezuela earthquake damage put at $19.6bn by World Bank
The World Bank says the June 24 quakes damaged homes, infrastructure and businesses, adding pressure to Venezuela’s recovery.
By Sofia Marchetti · World Affairs Correspondent
2 min read
The World Bank put Venezuela earthquake damage at an estimated $19.6bn after two powerful June 24 quakes, giving officials and aid groups a measure of the rebuilding task. The estimate points to heavy losses across housing, infrastructure and other buildings as Venezuela deals with deaths, injuries and displacement.
In a statement Thursday, the World Bank said 47 percent of the physical damage was to homes. Infrastructure accounted for 27 percent, while non-residential buildings made up 26 percent, according to the bank.
Susana Cordeiro Guerra, the World Bank vice president for Latin America and the Caribbean, said in the statement that the earthquakes had disrupted lives, damaged key infrastructure and added obstacles to Venezuela’s recovery. She said effective rebuilding starts with reliable evidence.
How much damage did the Venezuela earthquakes cause?
The World Bank estimated physical damage from the late-June earthquakes at $19.6bn. The bank said its assessment is intended to help the Venezuelan government and organizations involved in recovery understand the scale of the work ahead.
Government authorities have estimated that the magnitude 7.2 and 7.5 earthquakes killed at least 5,000 people and injured nearly 17,000. They have also said about 18,000 people remain homeless.
The disaster hit a country already under severe economic strain. Before the quakes, the World Bank estimated that 76 percent of people in Venezuela were living in poverty, citing years of economic mismanagement and U.S. sanctions as factors in the hardship.
Cordeiro Guerra said that without additional investment in time, the damage to productive capacity and living standards would slow recovery. The bank’s figures add a financial scale to the human toll reported by Venezuelan authorities.
Which areas were hit hardest?
The World Bank said La Guaira state and Distrito Capital were the most severely affected areas. Its report used Global Rapid Damage Estimation, known as GRADE, to assess the damage.
GRADE is a rapid assessment method that combines local seismic data, remote earthquake modelling, satellite imagery and damage reports. The World Bank said it also drew on information from government and humanitarian groups.
International support has been pledged for Venezuela, but the funding picture for recovery remains uncertain. The United States said Thursday it would provide more than $200m to the Red Cross for people affected by conflict and natural disasters, according to a statement from its diplomatic mission.
The U.S. statement said the money would support organizations that respond quickly to disasters, reach people in conflict settings and use existing humanitarian response systems. Those funds did not appear to be directed specifically to Venezuela.
This story draws on original reporting from Al Jazeera.