Venezuela Earthquakes Cause $19.6bn in Damage, World Bank Says

Residential buildings account for 47% of total estimated damage, making housing the hardest-hit sector. Infrastructure represents 27% of losses, while non-residential buildings account for the remaining 26%.

Venezuela's June 24 earthquakes caused an estimated $19.6 billion in direct physical damage, according to an early World Bank Group assessment that highlights the scale of reconstruction needed to protect the country's economic recovery.

The Global Rapid Damage Estimation, known as GRADE, gives the Venezuelan government and development partners an initial picture of the destruction caused by one of the country's most serious recent disasters. Its findings are expected to guide decisions on recovery priorities, technical support and future investment.

Homes Carry the Biggest Share of Losses

Residential buildings account for 47% of total estimated damage, making housing the hardest-hit sector. Infrastructure represents 27% of losses, while non-residential buildings account for the remaining 26%.

La Guaira state and Distrito Capital experienced the most severe impact, together making up around half of all damage. The destruction of homes, public facilities and vital infrastructure has disrupted daily life and added pressure to communities already dealing with economic challenges. Restoring housing will be a central part of recovery, while damaged transport, utilities and public services will need attention to help people return to safer and more stable living conditions.

Reconstruction Speed Will Shape Recovery

The World Bank Group's additional analysis found that the pace of rebuilding will strongly influence Venezuela's future economic and social outcomes. Reconstruction carried out under current public and private investment levels could require money to be diverted from other planned projects.

In that scenario, rebuilding may remain incomplete even after ten years, limiting economic activity and leaving communities exposed to prolonged disruption. A faster recovery supported by greater public and private investment could reduce the long-term impact on jobs, services and household wellbeing.

World Bank Vice President for Latin America and the Caribbean Susana Cordeiro Guerra said reliable evidence is essential for planning an effective response after the earthquakes damaged lives and critical infrastructure.

International Partners Prepare Support

The World Bank Group is working with Venezuela's government and development partners to identify the further technical and financial support needed for detailed damage assessments, recovery planning and reconstruction.

The Inter-American Development Bank shared data for the report, while the Development Bank of Latin America and the Caribbean, known as CAF, is also involved in the recovery discussions. The organisations will draw on experience from disaster recovery efforts across Latin America and other regions.

The early assessment gives policymakers a starting point, but the success of recovery will depend on whether rebuilding reaches damaged communities quickly and restores the services that support everyday life and economic activity.