Colombia Releases First Estimate of Earthquake Damage Costs
Colombia’s government presented its first economic assessment of the scale of the damage caused by the earthquake that struck the western part of the country on August 10. The initial estimate puts direct physical losses at nearly 30 trillion pesos, about US$9.6 billion, a figure that could still rise as assessments continue in the affected […]
The Colombian government released an initial report detailing the costs of earthquake damage, which could reach nearly 30 trillion pesos (around US$9.6 billion). The estimate, prepared by a private firm, covers physical losses to buildings and infrastructure in five hard-hit departments – Choco, Valle del Cauca, Risaralda, Quindío, and Caldas.
President Abelardo De La Espriella stated that the damage includes 26,945 destroyed homes and 127,557 damaged ones, in addition to harm to 285 health centers and over 2,838 educational institutions. The government emphasized that this is an initial estimate, subject to further review as assessments continue. Reconstruction will require rebuilding destroyed structures, restoring public utilities, roads, and healthcare and education infrastructure, as well as providing housing solutions for displaced families.
The government has dubbed its reconstruction plan the "Miracle Plan" and tasked Housing Minister Jaime Andres Beltran with coordinating the efforts. The government is also seeking private sector participation and lower interest rates to facilitate families' access to credit and accelerate reconstruction projects.
Written by urgent.news from Colombia One's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
