World Bank estimates $19.6 billion earthquake damage in Venezuela
The World Bank estimated that the twin earthquakes that struck northern Venezuela on June 24 caused $19.6 billion in direct physical damage, according to a preliminary assessment published Thursday. The figure is equivalent to about 18% of the country's gross domestic product, based on International Monetary Fund data. The estimate underscores the scale of destruction facing a country already navigating economic strain.
The World Bank estimated that the twin earthquakes which struck northern Venezuela on June 24 caused $19.6 billion in direct physical damage, according to a preliminary assessment published Thursday. The figure marks one of the first comprehensive attempts to quantify the scale of destruction from the disaster.
The damage is equivalent to about 18% of Venezuela's gross domestic product, based on data from the International Monetary Fund, underscoring how severely the earthquakes have strained an economy already grappling with years of hardship. Recovery efforts have continued for weeks, with survivors still being pulled from rubble more than a week after the initial quakes struck.
The World Bank's assessment is expected to inform international aid discussions in the coming weeks, as Venezuela seeks support to rebuild housing, infrastructure and public services in the hardest-hit regions.
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