The Daily Journal. The Inter-American Development Bank Group (IDB Group) announced on Thursday a financial aid package of at least $1 million to support emergency operations in Venezuela after the powerful twin earthquakes that caused extensive damage along the country’s central coastline and in Caracas.
The bank will provide the funding through non-reimbursable emergency technical cooperation, a financial instrument specifically designed to address emergencies caused by major natural disasters. The program will focus on two priorities: immediate humanitarian relief and technical assessments of damaged public infrastructure.
Humanitarian funding and partnership with Caritas
According to the institution’s official report, three internal funding sources will finance the humanitarian assistance component. The IDB will contribute $350,000, while member countries will provide between $300,000 and $400,000. In addition, the institution expects to raise between $100,000 and $200,000 through its “Todos con Venezuela” (Everyone for Venezuela) campaign, under which the bank will match employee donations.
To deliver assistance, the organization will rely on independent logistics networks with extensive field experience rather than directing funds through government agencies.
“The humanitarian assistance component will be implemented in coordination with Caritas Venezuela, a nonprofit organization with nationwide operations and extensive emergency response experience, as well as with other multilateral organizations participating in the response, ensuring rapid and effective delivery of aid to affected communities,” the institution stated.
Damage assessment and restoration of essential services
The second component of the financial package allocates $150,000 exclusively to engineering and planning activities. These funds will support damage and loss assessments that will guide the initial recovery phase and help restore essential public services in coastal communities where electricity, drinking water, and transportation networks suffered structural failures.
Ilan Goldfajn reaffirmed the development bank’s commitment to supporting the recovery process and coordinating efforts with institutional partners on the ground.
“The IDB Group stands with the people of Venezuela during this difficult time. This donation package will address urgent humanitarian needs while strengthening damage assessments for the emergency response. We will work closely with the government and our partners to support recovery efforts, mobilize resources, and help affected communities rebuild,” Goldfajn said.
The Washington-based financial institution also confirmed that it will maintain technical working groups with the Venezuelan government, agencies within the United Nations system, and other global humanitarian organizations to improve the flow of assistance and advance long-term structural resilience plans.
