Colombia earthquake losses near $10 billion, president says
Key Takeaways
- Economic losses are estimated at 30 trillion Colombian pesos, or US$9.57 billion.
- At least 26,945 homes were destroyed and more than 127,557 properties damaged.
- The earthquake has left 289 dead, 4,187 injured and 143 missing.
President Abelardo de la Espriella says the 7.4-magnitude quake caused around 30 trillion pesos in losses as Colombia begins rebuilding affected regions.
Colombian President Abelardo de la Espriella said the magnitude 7.4 earthquake that struck the country on August 10 caused economic losses of around 30 trillion Colombian pesos, equivalent to US$9.57 billion.
Speaking in Barranquilla, De la Espriella said an initial technical assessment had estimated the scale of damage from the earthquake, which mainly affected Valle del Cauca and Risaralda.
"A private firm modelled direct physical losses in Choco, Valle del Cauca, Risaralda, Quindio and Caldas, close to 30 trillion pesos, roughly 24.5 trillion in buildings and 5.5 trillion in infrastructure. Imagine the scale of the disaster," he detailed.
De la Espriella said Choco, where the epicentre was located, needs "special consideration and a Marshall Plan" to address historical debts and rebuild damaged homes and buildings.
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He also highlighted a World Bank loan secured to support the emergency response.
"In record time, the Ministry of Finance activated the disbursement of the first tranche of a World Bank loan for US$200 million," he said.
According to the president, the funds are available "to meet the most pressing needs of the victims of this natural disaster", and he expressed his gratitude to the international organisation for the speed of its response.
De la Espriella also announced rent subsidies, relief on public services and a programme called "Miracle Housing" for affected families.
"We will carry out the census, profile each case and deliver concrete solutions for all Colombians affected. My government will shoulder this responsibility with austerity," he asserted.
The quake has destroyed at least 26,945 homes and damaged more than 127,557 properties nationwide, according to the report presented by De la Espriella. At least 289 people have died, 4,187 have been injured and 143 remain missing.
This story is written and edited by the Global South World team, you can contact us here.
