The World Bank estimates that two earthquakes that struck Venezuela on June 24 caused about US$19.6 billion in direct physical damage to buildings and infrastructure. The preliminary assessment puts the damage at roughly 18% of Venezuela’s GDP, based on IMF data, and calls for a rapid increase in public reconstruction funding to limit long-term economic and social impacts. The report focuses on direct damage to structures, not wider economic losses. It estimates residential buildings account for about US$9.3 billion of damage (around half of the total), while non-residential buildings and infrastructure account for about US$5 billion and US$5.2 billion respectively. La Guaira and the area around Caracas are described as the hardest hit, with the World Bank estimating that around one in five homes in La Guaira were destroyed. The earthquakes killed at least 5,398 people and injured at least 16,740, according to the information reported alongside the World Bank estimate; some figures on missing people remain based on unofficial or humanitarian projections. The United Nations had earlier estimated much higher physical damage, around US$37 billion, and says about 1.3 million people need immediate humanitarian aid.