World Bank: The direct physical losses from the Venezuela earthquake are estimated at around 19.6 billion dollars.

The World Bank released a preliminary assessment report on the 23rd showing that the two earthquakes that occurred in Venezuela on June 24 resulted in an estimated $19.6 billion in direct physical losses, but the reconstruction costs may be double or even more. The report stated that the direct economic losses caused by these two earthquakes to buildings and infrastructure assets are estimated at $19.6 billion. Of this, residential building losses are around $9.3 billion, non-residential building losses are around $5 billion, and infrastructure losses are around $5.2 billion. The total recovery cost could increase to nearly $50 billion due to reconstruction upgrades, rubble clearance, and other related expenses.