The Barbados-based Caribbean Development Bank (CDB) says it has joined the Development Bank of Latin America and the Caribbean (CAAF) in providing a one million US dollar conntribution to the recovery and reconstruction of Venezuela, following the earthquake that killed several people last month.
CAF established the Fund for the Recovery and Reconstruction of Venezuela two days after the earthquake had hit the South American country on June 24. It is intended to mobilise and coordinate international support for emergency response, rehabilitation, recovery and reconstruction activities identified as priorities by the government of Venezuela.
‘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,’ said CDB president, Daniel Best.
‘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 said, noting that the CDB’s collaboration with CAF demonstrates how multilateral institutions can work together innovatively to respond effectively to humanitarian crises and support long-term recovery.
‘Equally important, this initiative provides an opportunity for the Bank to support a regional non-borrowing member in its time of greatest need, reaffirming that regional solidarity extends beyond traditional financing relationships.’
CAF’s executive president, Sergio Díaz-Granado, said ‘we deeply welcome and thank the Caribbean Development Bank for this historic one million US dollar 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,’ said Díaz-Granados.
CDB’s Governor for Venezuela, Ambassador Raúl Octavio Li Causi Perez said, expressed his country’s ‘sincere appreciation… for this extraordinary demonstration of solidarity with the people of Venezuela.
‘This contribution reaffirms that regional cooperation and integration are at their strongest when they respond to moments of greatest need. Venezuela deeply values this expression of confidence and support, which will contribute to the recovery and reconstruction of the affected communities.
‘We receive it with gratitude and with the conviction that, together with our Caribbean partners and institutions such as the Caribbean Development Bank and CAF, we will continue advancing a shared agenda founded on solidarity, resilience, and sustainable regional development,’ he added.