The Daily Journal.— Venezuela’s acting president, Delcy Rodríguez, announced Thursday the creation of an initial fund worth $200 million to finance the reconstruction of areas affected by the June 24 earthquakes. She said the government expects to recover those resources through the International Monetary Fund.
During a press conference with international media, Rodríguez explained that the administration is holding talks with the United States Department of State and the International Monetary Fund to gain access to those resources.
“We are creating a reconstruction fund, an initial fund equivalent to $200 million (…) that we will recover from the International Monetary Fund,” she said.
According to Rodríguez, the government will use the money to restore infrastructure damaged by the earthquakes. Official figures indicate that the disaster damaged 855 buildings, including hospitals, as well as roads, bridges, and other public services.
Rodríguez said the government made the restoration of essential services one of its first priorities after the disaster. She added that the electrical system in La Guaira has recovered to nearly 90% of its capacity, while water service has reached a similar level of restoration.
She also said authorities distributed more than five million liters of water to affected communities and approved a financial assistance payment for families living in the earthquake-affected areas.
International account opens for donations
The acting president also announced the opening of an account at the Development Bank of Latin America and the Caribbean to receive international donations dedicated exclusively to housing construction.
“We opened an account at CAF, and every contribution that arrives (…) will go to housing, with all the necessary auditing mechanisms,” she said.
Rodríguez explained that the government chose an international financial institution to ensure transparency in the management of the funds.
She added that the resources recovered through the International Monetary Fund will finance housing reconstruction projects under contracts that international auditing firms will review.
National reconstruction fund also announced
Rodríguez said the government will also establish a fund in bolívares managed by the Banco de Desarrollo Económico y Social de Venezuela, allowing citizens and businesses across the country to contribute to housing reconstruction.
“That fund will also finance the construction of homes,” she said.
Multilateral organizations offer support
The acting president said the government remains in contact with the Inter-American Development Bank, the International Monetary Fund, and the World Bank. According to Rodríguez, those institutions have already expressed their willingness to support the country’s recovery.
“We have remained in contact with the Inter-American Development Bank, the International Monetary Fund, and the World Bank. They have already offered non-reimbursable assistance for the recovery process, as well as credit lines for Venezuela,” she said.
Rodríguez concluded by saying that once rescue operations end, the government’s priority will shift toward providing comprehensive assistance to victims and rebuilding the areas devastated by the earthquakes that struck north-central Venezuela one week ago.
