Proposal for compensation law for La Guaira residents over $21 billion

A proposal calls for the National Assembly to debate a law for the recovery and compensation of all residents of La Guaira state, Banca y Negocios reported.

The initiative comes in the wake of the back-to-back earthquakes that struck the country on June 24, 2026, an event that devastated areas such as Catia La Mar, Urimare, Macuto and Caraballeda, where entire buildings were reported to have collapsed.

Rusvel Gutiérrez, president of the Chamber of Merchants, Industrialists and Customs Agents of La Guaira state (Caduainco), said operations at the local port are now running at 100%, after a one-month contingency that forced cargo to be diverted to Puerto Cabello.

According to figures from the United Nations Development Programme (UNDP) cited by the outlet, the full reconstruction of the state would cost roughly $21 billion.