CARACAS, 24th July, 2026 (WAM) -- Twin earthquakes that devastated Venezuela last month caused at least US$19.6 billion in direct physical damage, the World Bank said in an estimate Thursday, stressing the need for a rapid increase in public reconstruction funding to avoid lasting economic effects.
The assessment showed that 47 percent of the damage occurred in residential buildings, 27 percent in infrastructure and 26 percent in non-residential buildings.
“The earthquake caused an estimated $19.6 billion in direct physical damage, a staggering figure for any economy and one that demands a coordinated response,” said Susana Cordeiro Guerra, World Bank Vice President for Latin America and the Caribbean.
“Without timely additional investment, the negative impact on productive capacity and living standards will slow the path to recovery,” she said.
The bank said it was working with the Venezuelan government, the Inter-American Development Bank, and the Development Bank of Latin America (CAF) on a more comprehensive assessment of Venezuela’s recovery and reconstruction costs.