In the wake of the destructive earthquakes that hit Venezuela on June 24, the Development Bank of Latin America and the Caribbean (CAF) has unveiled a targeted new initiative to drive the country’s rebuilding: the Venezuela Recovery and Reconstruction Fund. This dedicated mechanism is structured to collect, mobilize, and direct combined contributions from public, private, and international stakeholders toward the most pressing recovery needs identified by Venezuelan authorities, building on the $300,000 in emergency humanitarian aid CAF already committed to immediate relief efforts.
Unlike scattered, uncoordinated aid efforts that often slow disaster response, the new fund centralizes all incoming donations under a unified framework of transparent administration and clear accountability. Donations are open to a wide range of partners, including national governments, multilateral organizations, private corporations, philanthropic foundations, individual givers, and other collaborative groups. All allocated resources will be aligned exclusively with recovery and reconstruction priorities formally set by the Government of Venezuela, with the core goal of delivering a unified, efficient response that eliminates fragmented efforts and speeds up the delivery of critical support to earthquake-impacted communities.
To kickstart the initiative, CAF has made an initial seed commitment of $1 million to launch the fund and finance the first round of prioritized projects. In a move designed to maximize impact for affected communities, CAF will not levy any administrative or implementation fees for managing the fund, ensuring 100 percent of all contributed funds go directly toward emergency response and long-term reconstruction work.
“Natural disasters demand a collective response rooted in humanity and solidarity, and Venezuela needs our support now more than ever,” said Sergio Díaz-Granados, Executive President of CAF. “As Venezuela is a founding member of CAF and hosts our organization’s headquarters, launching this reconstruction fund is a natural expression of our commitment. This is an agile, fully transparent mechanism, and we invite governments and private sector actors across the globe to join us. By combining our resources, we can build a truly effective response. Our promise extends beyond the immediate emergency: we will stand with the Venezuelan people through every step of the long recovery and reconstruction journey ahead.”
The fund is intentionally designed to adapt to the three distinct phases of disaster response, evolving with changing needs on the ground. In its first phase, the mechanism will support immediate life-saving assistance, including the distribution of humanitarian supplies, provision of essential goods, and logistical backing for Venezuelan institutions leading the emergency response. The second phase will focus on rehabilitating critical public services, including healthcare systems, water and sanitation infrastructure, energy networks, education facilities, and digital connectivity. In the final long-term phase, the fund will back broader recovery and resilience-building efforts, including early permanent reconstruction, the restoration of local livelihoods, and infrastructure upgrades to reduce community vulnerability to future natural disasters. All interventions will be rolled out incrementally, based on detailed damage assessments and updated priorities confirmed by the Venezuelan government.
To uphold full transparency, all fund resources are held as a ring-fenced pool completely separate from CAF’s own operating capital. The mechanism built in end-to-end traceability for every individual intervention, requires regular public financial reporting, and mandates independent third-party audits to ensure accountability. Donations may be made in either U.S. dollars or euros, and resource deployment is structured for maximum flexibility: funds can be executed through pre-vetted eligible implementing partners, or directly managed by CAF when that approach delivers greater efficiency.
CAF’s longstanding institutional ties to Venezuela—dating back to the country’s role as a founding member and permanent host of the bank’s headquarters—reinforce the organization’s commitment to standing with the Venezuelan people and their governing institutions through every stage of this emergency response, recovery, and reconstruction process. The bank is leveraging its existing technical expertise and financial network to mobilize solidarity from across the Latin American and Caribbean region and the wider global community. For more information on how to contribute or participate in the initiative, interested parties can access details via the official link for the Recovery and Reconstruction Fund for Venezuela.