A devastating series of earthquakes that struck Venezuela in late June 2026 has prompted an outpouring of regional solidarity, with the Caribbean Development Bank (CDB) approving a $1 million contribution to support the country’s recovery and reconstruction.
The June 24 quakes left a tragic trail of destruction across multiple regions of Venezuela, claiming lives, forcing thousands of residents from their homes, and causing severe damage to critical public and private infrastructure. Just 48 hours after the disaster struck, the Development Bank of Latin America and the Caribbean (CAF) moved quickly to establish a dedicated Venezuela Recovery and Reconstruction Fund, designed to centralize international donations and coordinate relief efforts in line with priorities set by the Venezuelan government. The fund is structured to provide a transparent, accountable framework for governments, multilateral institutions, and other partner organizations to channel support to recovery initiatives.
CDB’s Board of Directors has formally approved the $1 million pledge, which will be deposited into CAF’s dedicated fund, the regional bank confirmed in an official press statement. For CDB, the contribution is more than just humanitarian assistance — it is a reaffirmation of longstanding regional ties and the importance of collective action when neighboring nations face crisis.
“In the immediate aftermath of this tragedy, the Caribbean Development Bank determined that we had to respond,” said CDB President Daniel M. Best. “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.”
Best praised the CDB Board of Directors for their swift approval of the contribution, noting that the partnership with CAF sets a powerful example of collaborative action among multilateral institutions during humanitarian emergencies. “Our collaboration with CAF through their recovery mechanism demonstrates how multilateral institutions can work together innovatively to respond effectively to humanitarian crises and support long-term recovery,” he added. “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 Executive President Sergio Díaz-Granados welcomed CDB’s landmark contribution, expressing hope that the pledge will encourage other international and regional partners to commit resources to the recovery effort. “We deeply welcome and thank the Caribbean Development Bank for this historic $1 million contribution to our Recovery and Reconstruction Fund,” Díaz-Granados said. “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.”
Venezuela’s CDB Governor, Ambassador Raúl Octavio Li Causi Perez, also extended gratitude for the show of regional solidarity. “As Governor of the Caribbean Development Bank for Venezuela, I wish to express our sincere appreciation to the Bank’s Board of Directors, its President, and all CDB member countries for this extraordinary demonstration of solidarity with the people of Venezuela,” Ambassador Li Causi Perez said. “This contribution reaffirms that regional cooperation and integration are at their strongest when they respond to moments of greatest need.”
He added: “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.”
Per CAF’s framework, the recovery fund will allocate financing across three core areas: immediate emergency and humanitarian aid for affected communities, restoration of critical essential services and damaged infrastructure, and long-term projects designed to boost recovery speed, reconstruction quality, and community resilience against future disasters.