World Bank offers $200 million and technical aid to Colombia after earthquake

The World Bank has detailed its comprehensive response to Colombia after a magnitude 7.4 earthquake struck on August 10, pledging $200 million in direct financial aid and technical assistance. The institution is collaborating with the Colombian government and partners to address immediate needs and lay the groundwork for long-term recovery.

Part of this support includes the disbursement of $200 million on August 13 to bolster emergency response efforts. Additionally, the bank is conducting a Rapid Earthquake Damage Assessment (GRADE) to provide the government with a preliminary evaluation of economic losses. This assessment will help prioritize reconstruction efforts and allocate assistance effectively.

The World Bank is also engaging with Colombian development banks, financial institutions, and the private sector. The goal is to channel financing towards affected communities and businesses, with a focus on supporting public health, housing, and small and medium-sized enterprises. Vice President for Latin America and the Caribbean, Susana Cordeiro, expressed the bank's full backing to Colombia during the recovery process, offering specialized technical assistance and international expertise in disaster management.