World Bank says Venezuela quake damage $19.6 billion

A preliminary assessment by the World Bank estimates that the twin earthquakes that struck Venezuela on June 24, 2026, caused $19.6 billion in direct physical damage, a figure representing roughly 18 percent of the country's gross domestic product. The report, released on July 23, warns that the total cost of rebuilding could reach between $40 billion and $50 billion.

The magnitude 7.2 and 7.5 earthquakes, which hit north-central Venezuela within 39 seconds of each other, resulted in a devastating human toll. Government estimates cited in the report indicate nearly 5,400 deaths, approximately 17,000 injuries, and left nearly 18,000 people homeless. The disaster is the country's deadliest earthquake since 1812 and caused widespread destruction to residential buildings, infrastructure, and non-residential structures in northern regions, including the capital, Caracas. The states of La Guaira and the Capital District, which includes central Caracas, account for about half of the total damage.

The World Bank's Global Rapid Damage Estimation (GRADE) report found that residential buildings accounted for 47 percent of total losses, followed by critical infrastructure at 27 percent and...