(Reuters) – Two earthquakes that rocked Venezuela on June 24 caused $19.6 billion ​in direct physical damage, but the cost of rebuilding could be twice that much more, the World Bank said in an early assessment released on Thursday.

The 7.2 and 7.5 magnitude quakes killed about 5,000 people, according to the government, destroying residential buildings, infrastructure and non-residential buildings in the northern areas of the country, including the capital Caracas. The government estimates that nearly 17,000 people were injured and nearly 18,000 remain homeless.

The disaster, the country’s deadliest earthquake since 1812, came at a time when socioeconomic conditions were already precarious, with a poverty rate of over 76%, the World Bank said. Some 7.9 million people have fled the country since 2015.