IDB Group Pledges $1 Million for Venezuela Earthquake Relief

The funding is intended to provide immediate humanitarian relief while also supporting assessments needed to guide long-term recovery efforts.

The Inter-American Development Bank (IDB) Group has announced a grant package of at least $1 million to help Venezuela respond to the devastating earthquakes that struck the country's central coast. The funding is intended to provide immediate humanitarian relief while also supporting assessments needed to guide long-term recovery efforts.

IDB Group President Ilan Goldfajn said the organisation stands with the people of Venezuela during this difficult period and remains committed to working alongside the government and humanitarian partners to help communities recover and rebuild.

Aid package combines humanitarian relief and recovery planning

The emergency package includes $350,000 in direct funding from the IDB for immediate humanitarian assistance, while contributions from IDB member countries are expected to provide an additional $300,000 to $400,000. The Bank's internal "Together for Venezuela" solidarity campaign is also expected to raise between $100,000 and $200,000, with employee donations being matched by the IDB Group.

Another $150,000 has been allocated to assess earthquake damage and estimate losses. The assessment will help authorities identify priorities for restoring essential public services and planning the next stages of recovery.

The humanitarian assistance programme will be delivered in coordination with Cáritas Venezuela, a nonprofit organisation with extensive experience in emergency response across the country. The IDB will also work with other multilateral organisations involved in relief operations to ensure assistance reaches affected communities as quickly and effectively as possible.

Partnership focuses on rebuilding and resilience

The grant is being provided through the IDB's non-reimbursable emergency technical cooperation mechanism, which is designed to help borrowing member countries respond to extraordinary natural disasters. The Bank said the funding structure has also been designed to encourage additional financial support from other partners.

Alongside the emergency grant, the "Together for Venezuela" fundraising campaign, launched with the Office of the Executive Director for Venezuela and IDB employee associations, will provide further support to Cáritas Venezuela as it delivers emergency aid and assists communities during the rebuilding process.

The IDB Group said it will continue working with the Venezuelan government, United Nations agencies, and humanitarian organisations to strengthen recovery efforts and improve the country's resilience against future disasters.