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Colombia: Earthquake damage estimated at over $9.5 billion

The earthquake that devastated the Pacific region and the Coffee Belt has left a financial hole of nearly $10 billion: 289 dead, 143 missing and the first major test for the de la Espriella administration.

Rescue workers search for survivors in a building that collapsed after the earthquake in Pereira, Colombia

Rescue workers search for survivors in a building that collapsed after the earthquake in Pereira, ColombiaAFP.

Carlos Dominguez
Published by
Carlos Dominguez

President Abelardo de la Espriella estimated the economic losses from the magnitude 7.4 earthquake that devastated western Colombia and left hundreds dead at approximately $9.57 billion.

According to AFP, the estimate—which is preliminary and was prepared by a private firm—covers approximately one-third of the country's territory. The quake destroyed thousands of homes, buildings, schools and hospitals, particularly in the Pacific region and the Coffee Belt.

289 dead and 143 missing

De la Espriella updated the death toll to 289 and the number of injured to 4,187. "Imagine the scale of the disaster. This is a preliminary figure that will be adjusted as we receive more information and assess the situation in each region," he said.

A week after Aug. 10, authorities are moving on to debris removal, with little chance of finding survivors. There are 143 people missing.

First test for the new administration

The earthquake is the first major test for the government of Abelardo de la Espriella, who took office on August 7, three days before the quake. In a key national address on August 17, he tasked Housing Minister Jaime Andrés Beltrán with leading the Miracle Reconstruction Plan, an alliance with construction firms, banks, insurers, governors and mayors.

The United States has pledged $26.5 million in humanitarian aid. The World Bank disbursed $200 million on August 13 for the emergency response.

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