The Caribbean Development Bank (CDB) is contributing US$1 million to support Venezuela’s recovery from the devastating earthquakes that struck the country in June.
The contribution was approved by the CDB Board of Directors and will go to the CAF – Development Bank of Latin America and the Caribbean’s Fund for the Recovery and Reconstruction of Venezuela, as per a CDB press release.
The earthquakes, which occurred on June 24, 2026, resulted in significant loss of life, displaced communities, and caused extensive damage to critical infrastructure in several parts of Venezuela.
According to the release, CAF established its recovery and reconstruction fund two days later, on June 26, to bring together international assistance for emergency response, rehabilitation, recovery and rebuilding efforts. The priorities are being identified in coordination with the Government of Venezuela.
The fund is intended to provide governments, development institutions and other partners with a transparent and accountable way to contribute to Venezuela’s recovery.
For the CDB, the US$1 million contribution also highlights the importance of regional cooperation, particularly when countries are facing major disasters.
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.”
Best also thanked the CDB’s Board of Directors for approving the contribution and pointed to the partnership with CAF as an example of how multilateral institutions can work together during humanitarian crises.
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.”
CAF Executive President Sergio Díaz-Granados welcomed the CDB’s contribution and said the organization hopes it will encourage other partners to support the recovery effort.
“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,” he said.
CDB Governor for Venezuela, Ambassador Raúl Octavio Li Causi Perez, also expressed appreciation for the support.
“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 said.
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.”
According to CAF, the recovery fund will finance emergency and humanitarian assistance, the restoration of essential services and infrastructure, as well as projects aimed at speeding up recovery, reconstruction and resilience-building across affected communities.
