CDB, CAF contribute US$1 million to Venezuela recovery

BRIDGETOWN, Barbados, CMC – The Barbados-based Caribbean Development Bank (CDB) says it has joined the Development Bank of Latin America and the Caribbean (CAF) in providing a US$1 million contribution to the recovery and reconstruction of Venezuela, following two back-to-back earthquakes that killed several people last month.

CAF established the Fund for the Recovery and Reconstruction of Venezuela two days after the earthquake struck the South American country on June 24. The fund is intended to mobilise and coordinate international support for emergency response, rehabilitation, recovery and reconstruction activities identified as priorities by the Venezuelan Government.

“In the immediate aftermath of this tragedy, the Caribbean Development Bank determined that we had to respond. Venezuela is a longstanding member of our institution and a country that has consistently and meaningfully supported the people and nations of the Caribbean over many decades,” said CDB president, Daniel Best.

“At this moment of profound loss and hardship, it is important that we stand in solidarity with the Government and people of Venezuela and provide support as they begin the challenging process of rebuilding,” he said, noting that the CDB’s collaboration with CAF demonstrates how multilateral institutions can work together innovatively to respond effectively to humanitarian crises and support long-term recovery.

Best added, “Equally important, this initiative provides an opportunity for the Bank to support a regional non-borrowing member in its time of greatest need, reaffirming that regional solidarity extends beyond traditional financing relationships.”

CAF’s executive president, Sergio Díaz-Granado, said, “we deeply welcome and thank the Caribbean Development Bank for this historic one million US dollar contribution to our Recovery and Reconstruction Fund.

“This contribution will directly support priority recovery efforts, and we hope it inspires other partners to join this collective endeavour. Our commitment is to ensure that every dollar entrusted to this Fund translates into tangible relief and lasting reconstruction for the Venezuelan people.”

CDB’s Governor for Venezuela, Ambassador Raúl Octavio Li Causi Perez, expressed his country’s “sincere appreciation… for this extraordinary demonstration of solidarity with the people of Venezuela”.

“This contribution reaffirms that regional cooperation and integration are at their strongest when they respond to moments of greatest need. Venezuela deeply values this expression of confidence and support, which will contribute to the recovery and reconstruction of the affected communities,” the governor said.

“We receive it with gratitude and with the conviction that, together with our Caribbean partners and institutions such as the Caribbean Development Bank and CAF, we will continue advancing a shared agenda founded on solidarity, resilience, and sustainable regional development.”

Two powerful earthquakes of 7.2 and 7.5 magnitude struck northern Venezuela on June 24, causing severe collapse of structures and infrastructure. The death toll from the disaster has since continued to climb past 6,000 people amid ongoing humanitarian concerns and structural assessments.

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