A double earthquake that struck Venezuela on June 24 caused massive damage: according to a technical report by UNDRR, direct physical losses were estimated at around $37 billion. Of this total, about $24 billion is linked to destroyed residential, commercial, educational, medical and industrial buildings, as well as infrastructure facilities. The disaster affected nearly 6.8 million people. To rebuild the country, it will require multi-billion-dollar investment in key sectors: $5 billion for telecommunications, $3.1 billion for energy, $2.1 billion for roads and railways, $1.6 billion for water supply and sanitation, $1 billion for oil and gas, and another $300 million for ports and airports.
The author recalls that back in 2005, at the request of the Venezuelan government, the Japan International Cooperation Agency (JICA) prepared the “Basic Plan for Disaster Prevention in the Metropolitan District of Caracas.” However, that document—containing forecasts and recommendations for strengthening structures—ended up staying on paper: the technical opinions of specialists, including Dr. Carlos Henatiosis, were ignored. Now, the author argues, the country has no economic resources to carry out reconstruction on its own due to the macroeconomic policies of the past 27 years, which puts the quality of planning and project execution at risk.
The article goes beyond dry statistics, suggesting that the catastrophe should be seen as a challenge for Venezuela’s modernization and institutionalization. The author emphasizes that recovery will require bringing in the best minds, abandoning sectarianism and populism, and taking a long-term approach. As a specific step, the author proposes creating a “Humanitarian Fund for the Reconstruction of Venezuela,” to be managed transparently, honestly, and with a high degree of accountability. It is precisely now, the author believes, that a “window of opportunity” has opened—not just to patch the gaps, but to lay the foundations for the country’s sustainable development.
Full version: Modernización, institucionalización y terremoto