World Bank allocates $200 million to Colombia for emergency earthquake relief

The World Bank has allocated $200 million to Colombia for emergency assistance following the devastating earthquake that struck the country on August 10.

Report informs, citing Reuters, that the bank is working with the Colombian government, international partners, financial institutions and the private sector to address the urgent needs of affected communities and lay the groundwork for subsequent recovery efforts.

The World Bank has also launched its Global Rapid Damage Estimation (GRADE) program for earthquakes. The initiative will provide the Colombian government with a preliminary assessment of physical damage and economic losses, helping authorities prioritize relief and reconstruction efforts.

The funds will be directed to affected communities and businesses, including support for the healthcare system, housing sector and small and medium-sized enterprises.

A magnitude 7.4 earthquake struck Colombia on August 10. The disaster destroyed apartment buildings and damaged residential properties, schools and hospitals in western parts of the country.

According to the authorities, 285 people were killed and around 4,000 injured in the earthquake. Approximately 400 people remain missing.