The World Bank is estimating it will cost Colombia upward of $1 billion to tend to the surge of Venezuelan migrants fleeing their nation’s economic and humanitarian crisis.
In a report published Friday, bank analysts conclude Colombia will need to make substantial investments in areas like health and education to cope with an influx of more than one million Venezuelans.
Coverage of Venezuela on Globalnews.ca:
-
![]()
Trudeau says Canada using ICC to address Venezuela human rights issues -
![]()
Prime Minister Trudeau condems Venezuela snap election -
![]()
Maduro wins re-election in Venezuela amid outcry over vote -
![]()
Mexico, U.S. agree to working on restoring Venezuelan democracy: Freeland -
![]()
Tensions increase between Canada, Venezuela
But the study also notes that in the longer term the massive Venezuelan migration to Colombia could generate economic growth.
Get daily National news
New arrivals will boost consumption and resulting tax revenues could improve Colombia’s economy.
READ MORE: Venezuela’s Nicolas Maduro accuses Trump administration of seeking to assassinate him
The United Nations estimates about two million Venezuelans have fled since 2015 amid worsening food and medical shortages.
They are fleeing by plane, bus and when all else fails on foot to reach their destination.
Comments
Want to discuss? Please read our Commenting Policy first.