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Add to Preferred SourcesThe Caribbean Development Bank (CDB) and CAF – Development Bank of Latin America and the Caribbean 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, according to a press release issued on August 10, 2026 from Bridgetown, Barbados. The contribution will support recovery and reconstruction efforts in the Bolivarian Republic of Venezuela following the earthquakes of June 24, 2026. Those earthquakes caused significant loss of life, widespread displacement, and extensive damage to critical infrastructure across several regions. The decision reflects CDB’s response to a longstanding member country. It also signals coordinated multilateral action in the wake of the disaster.
CAF established the Fund for the Recovery and Reconstruction of Venezuela on June 26, 2026. Its purpose is to mobilize and coordinate international support for emergency response, rehabilitation, recovery, and reconstruction activities identified as priorities by the Government of Venezuela. The Fund offers 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 between regional and international development institutions. It advances a shared commitment to resilience and solidarity.
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 also thanked the Board of Directors for approving the contribution. He noted that the collaboration with CAF demonstrates how multilateral institutions can respond to humanitarian crises.
Sergio Díaz-Granados, CAF Executive President, said, “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.”
CDB’s Governor for Venezuela, Ambassador Raúl Octavio Li Causi Perez, expressed appreciation to the Bank’s Board of Directors, its President, and all CDB member countries. He described the contribution as an extraordinary demonstration of solidarity with the people of Venezuela.
CAF’s Fund for the Recovery and Reconstruction of Venezuela will support emergency and humanitarian response. It will also fund rehabilitation of essential services and infrastructure. Additional interventions are designed to accelerate recovery, reconstruction, and resilience-building. Ambassador Li Causi Perez noted that Venezuela receives the contribution with gratitude and conviction that recovery will advance together with Caribbean partners. The announcement reaffirms regional cooperation as a foundation for responding to moments of greatest need.