Venezuela quakes caused $19.6 billion in damage, World Bank report shows
Two earthquakes that struck Venezuela on June 24 caused $19.6 billion in direct physical damage, according to a World Bank report. The quakes resulted in approximately 5,000 deaths and nearly 17,000 injuries, with many more left homeless. The total cost of rebuilding could be twice the initial estimate or more, posing significant challenges to the country's already precarious socioeconomic conditions.
- ▪The earthquakes caused an estimated $19.6 billion in direct physical damage, with the total cost of rebuilding potentially reaching $50 billion.
- ▪The disaster resulted in approximately 5,000 deaths and nearly 17,000 injuries, with around 18,000 people left homeless.
- ▪The World Bank is working with the Venezuelan government and other organizations to conduct a comprehensive assessment of the recovery and reconstruction costs.
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Venezuela quakes caused $19.6 billion in damage, World Bank report showsSign up now: Get ST's newsletters delivered to your inboxPublished Jul 23, 2026, 10:08 PMUpdated Jul 23, 2026, 10:08 PMSet as preferred sourceWASHINGTON, July 23 - Two earthquakes that rocked Venezuela on June 24 caused $19.6 billion in direct physical damage, but the cost of rebuilding could be twice that much or more, the World Bank said in an early assessment released on Thursday.The 7.2 and 7.5 magnitude quakes killed about 5,000 people, according to the government, destroying residential buildings, infrastructure and non-residential buildings in the northern areas of the country, including the capital Caracas.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Straits Times.