Latest update September 20th, 2026 10:40 AM
CAF launches Venezuela Recovery Fund following devastating earthquakes
(Kaieteur News) – The Development Bank of Latin America and the Caribbean (CAF) has announced the establishment of the Venezuela Recovery and Reconstruction Fund, a dedicated financing mechanism created in response to the earthquakes that struck Venezuela on June 24.
The CAF headquarters
In a statement, CAF said that the fund is designed to consolidate contributions from governments, international organizations, corporations, foundations, and private individuals under a single administrative framework, with resources directed toward priorities set by the Venezuelan government. CAF will seed the fund with an initial USD 1 million commitment and will waive all administrative fees, ensuring that every dollar contributed goes directly toward relief and reconstruction efforts.
The announcement comes on top of US $300,000 in humanitarian aid CAF had already pledged in the immediate aftermath of the disaster.
“Acts of nature are met with acts of humanity and solidarity, and Venezuela needs us today more than ever,” said Sergio Díaz-Granados, Executive President of CAF. He described the fund as “an agile and transparent mechanism” open to both governments and the private sector, adding that CAF is committed to accompanying the Venezuelan people “not only during the emergency, but throughout the entire path of recovery and reconstruction that lies ahead.”
The fund is structured in three phases. The first focuses on immediate humanitarian assistance, including essential supplies and support for emergency responders. The second targets rehabilitation of critical services such as health, water and sanitation, energy, education, and communications infrastructure. The third phase is oriented toward longer-term recovery and resilience, covering early reconstruction, restoration of livelihoods, and measures to reduce vulnerability to future disasters.
To ensure transparency and accountability, the fund’s resources will be held separately from CAF’s own balance sheet, with per-intervention traceability, regular financial reporting, and independent audits. Contributions can be made in U.S. dollars or euros.
Venezuela holds particular significance for CAF — it is one of the bank’s founding member countries and hosts its headquarters in Caracas, deepening the institution’s stated commitment to the country’s recovery.
To learn more details and become part of this initiative, follow the link: Recovery and Reconstruction Fund for Venezuela. =
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