BRIDGETOWN, Barbados: The Caribbean Development Bank (CDB) and CAF – Development Bank of Latin America and the Caribbean today announced a landmark USD 1 million contribution by CDB to CAF's Fund for the Recovery and Reconstruction of Venezuela, following approval by CDB's Board of Directors.

The contribution will support recovery and reconstruction efforts in the Bolivarian Republic of Venezuela following the devastating earthquakes of June 24, 2026, which caused significant loss of life, widespread displacement and extensive damage to critical infrastructure across several regions of the country.

CAF established the Fund for the Recovery and Reconstruction of Venezuela on June 26, 2026, to mobilise and coordinate international support for emergency response, rehabilitation, recovery and reconstruction activities identified as priorities by the Government of Venezuela. The Fund provides a transparent and accountable mechanism through which governments, institutions and development partners can contribute to the country's recovery effort. CDB's contribution reflects the value of multilateral partnership, with regional and international development institutions working together to support recovery and reconstruction while advancing a shared commitment to resilience and solidarity. efforts.

CDB President Daniel M. Best said, "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. 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 added, “We are grateful to our Board of Directors for their unwavering support in approving this contribution. Our collaboration with CAF through their recovery mechanism demonstrates how multilateral institutions can work together innovatively to respond effectively to humanitarian crises and support long-term recovery. 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."

"We deeply welcome and thank the Caribbean Development Bank for this historic USD 1 million 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,” said Sergio Díaz-Granados, CAF Executive President.

CDB’s Governor for Venezuela, Ambassador Raúl Octavio Li Causi Perez said, “As Governor of the Caribbean Development Bank for Venezuela, I wish to express our sincere appreciation to the Bank’s Board of Directors, its President, and all CDB member countries 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.”

He added, “Venezuela deeply values this expression of confidence and support, which will contribute to the recovery and reconstruction of the affected communities. 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.”

CAF’s Fund for the Recovery and Reconstruction of Venezuela will support emergency and humanitarian response; rehabilitation of essential services and infrastructure; and interventions to accelerate recovery, reconstruction and resilience-building.

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