Venezuela Faces Massive Rebuilding Costs After Earthquakes, World Bank Estimates $19.6 Billion in Damages
Venezuela is grappling with the aftermath of devastating earthquakes that struck a coastal area near Caracas, resulting in over 5,000 fatalities. The World Bank has estimated the cost of rebuilding infrastructure and housing at $19.6 billion. The destruction is extensive, with entire buildings flattened and others severely damaged. The U.N. Office for Project Services is involved in assessing the damage, noting the unusual patterns of destruction that resemble a war zone. The focus is now on providing temporary housing and conducting forensic engineering to determine safe rebuilding areas. The U.S. government, under President Trump, has been involved in Venezuela's political landscape, but it remains unclear if oil revenues will aid reconstruction efforts. 
