World Bank says Venezuela earthquakes cost $19.6bn | Stories About Earthquakes

The report says that 47 percent of the physical damage caused by the two earthquakes affected residential buildings.

The World Bank has said that strong earthquakes the Venezuela disaster at the end of June cost $19.6bn, highlighting the country’s difficult road to recovery.

In a statement on Thursday, the World Bank said 47 percent of the damage was to residential buildings, while 27 percent was caused by construction and 26 percent to non-residential buildings.

“The earthquakes have disrupted lives, caused damage, and created new challenges for the recovery of Venezuela,” Susana Cordeiro Guerra, vice president of the World Bank for Latin America and the Caribbean, said in a statement. “Good recovery starts with reliable evidence.”

Officials say the magnitude 7.2 and 7.5 earthquakes that struck Venezuela on June 24 killed at least. 5,000 people and about 17,000 were injured. Another 18,000 remain homeless, as the country struggles to recover from the devastation amid an ongoing economic crisis.

Even before the disaster, the World Bank said that 76 percent of people in Venezuela, which has been suffering from years of economic problems and violations of US sanctions, were in poverty.

“Without additional funds in time, the loss of working capacity and quality of life slows down the recovery process,” said Cordeiro Guerra.

The World Bank says so his estimate means to give The government of Venezuela and those who hope to contribute to the recovery and data the size of the upcoming crisis.

The report, which was carried out using the Global Rapid Damage Estimation (GRADE), says that the regions of La Guaira state and Distrito Capital were the most affected. The estimate is based on local seismic data, remote seismic models, satellite images, and damage reports from government and humanitarian groups.

When countries around the world do promised help in Venezuela, it is unclear where the reparations money will come from.

The United States, which has dominated Venezuela’s affairs since the military ouster of the country’s former leader Nicolas Maduro in January, announced on Thursday that it would donate more than $200m to the Red Cross to help people affected by the conflict and natural disasters.

“Today’s donations support organizations that respond quickly to disasters, provide unprecedented access to people in need in conflict, and support global disaster and humanitarian efforts,” he said in a statement.

The money doesn’t seem to be focused on Venezuela.