UNDP estimates $6.7 billion in Venezuela earthquake damages

Preliminary assessments indicate that two earthquakes striking Venezuela's northern coast on June 24 have caused an estimated $6.7 billion in damages to housing and economic assets. The assessment, conducted by the UN Development Programme (UNDP) using satellite data and seismic models, focused on the immediate aftermath of the 7.2 and 7.5 magnitude tremors.

The earthquakes were felt across significant populated and economically vital areas, including the capital, Caracas, and the states of La Guaira, Carabobo, Miranda, Yaracuy, and Aragua. Initial data also suggests potential disruptions to electricity supply in parts of Carabobo, La Guaira, Caracas, and Aragua.

Luis Francisco Thais, the UNDP resident representative in Venezuela, stressed the importance of rapid and accurate initial assessments for effective response. He highlighted tools like the Rapid Damage Assessment (Rapida) that aid evidence-based decision-making to support affected communities. Thais also noted that crises present opportunities to integrate resilience into development strategies, ensuring recovery builds a more sustainable future.

“

The speed and accuracy of initial assessments are essential for an effective response.

The UNDP estimates that approximately 1.7 million structures were located within the affected zones. However, this figure does not encompass wider economic impacts or the long-term costs of reconstruction. The total impact is expected to be significantly higher, potentially 1.5 to 3 times the value of direct damages, as more information becomes available.

Separately, Venezuelan Parliament President Jorge Rodríguez reported that the earthquakes resulted in 1,430 fatalities and 3,238 injuries. He also stated that 3,142 families were displaced by the disaster.

“

At this time (...) we are counting that 1,430 brothers and sisters have died, unfortunately they have lost their lives.