Venezuela earthquake response: subsidies, industry impact and reconstruction costs

The Venezuelan Chamber of Electronic Commerce (Cavecom‑e) will start a national census of businesses that lost premises in the June 24 earthquakes and provide subsidised e‑commerce equipment, online‑sales tools and digital‑payment solutions, eliminating integration and setup fees. The initiative also aims to extend digital payment apps to 70‑80% of the transport sector by year‑end.

The Confederation of Venezuelan Industrialists (Conindustria) reported that only about 1% of the industrial park halted operations, with over 90% experiencing little or no damage. Damage assessments estimate direct losses of roughly $6.7 billion and total reconstruction costs ranging from $10 billion up to $37 billion, prompting proposals for public‑private partnerships and anti‑seismic container housing.

Fedecámaras president Felipe Capozzolo said the disaster will shave 2‑3 percentage points off GDP growth but not trigger a recession. The government has created a $200 million emergency fund and is seeking financing from the IMF, World Bank and the release of 31 tonnes of Venezuelan gold held in the United Kingdom to fund rebuilding and aid for the 3,889 dead, 16,740 injured and over 17,900 people left homeless.