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CAF launches US$1M recovery fund for Venezuela after deadly earthquakes
CAF – the Development Bank of Latin America and the Caribbean has announced the creation of a US$1 million Venezuela Recovery and Reconstruction Fund to support the country’s recovery following the powerful earthquakes that struck on June 24.
The new fund is in addition to the US$300,000 in humanitarian assistance previously announced by CAF to aid emergency response efforts.
According to the regional development bank, the fund will serve as an agile and transparent mechanism for mobilising financial support from governments, international organisations, businesses, foundations and private donors. The resources will be directed towards recovery and reconstruction projects identified and prioritised by the Government of Venezuela.
Rescue workers pull Moises Calzadilla, 11, from the rubble three days after earthquakes struck La Guaira, Venezuela, Saturday, June 27, 2026. (AP Photo/Fernando Vergara)
CAF said it will provide the initial US$1 million in seed capital to launch the fund and will waive all administrative and implementation fees to ensure every dollar contributed is used for emergency response and rebuilding efforts.
“Acts of nature are met with acts of humanity and solidarity, and Venezuela needs us today more than ever,” CAF Executive President Sergio Díaz-Granados said.
“Venezuela is a founding country and home to the headquarters of CAF, and that is why we are launching this Fund for reconstruction—an agile and transparent mechanism that we invite governments and the private sector to join, so that their contributions, together with ours, become part of an effective response.”
He added that CAF remains committed to supporting the Venezuelan people “not only during the emergency, but throughout the entire path of recovery and reconstruction that lies ahead.”
The fund will initially finance humanitarian assistance, including emergency supplies and support for agencies leading disaster response efforts. As recovery progresses, financing will expand to restore critical services such as healthcare, water and sanitation, electricity, education and telecommunications.
In the longer term, the mechanism will support reconstruction projects, livelihood restoration and initiatives aimed at strengthening resilience against future natural disasters.
CAF said the fund will operate independently from the bank’s own financial resources and will include strict accountability measures, including traceable spending, periodic financial reports and independent audits. Contributions can be made in U.S. dollars or euros.
The bank said its long-standing relationship with Venezuela—as one of its founding members and the host of its headquarters—underscores its commitment to supporting the country’s recovery while mobilising regional and international solidarity in the aftermath of the disaster.
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