IDB Group Providing Grants of At Least $1 Million to Support Venezuela’s Emergency Response to Earthquakes

WASHINGTON — The Inter-American Development Bank Group (IDB Group) will provide a grant package totaling at least $1 million to support Venezuela's emergency response following the earthquakes that struck the country's central coast.

The resources will support:

• Immediate humanitarian assistance, including $350,000 from the IDB, contributions from IDB member countries currently estimated at $300,000-$400,000, and $100,000-$200,000 raised through the IDB Group's internal "Together for Venezuela" solidarity campaign, with employees' contributions matched by the Bank.
• Assessment of damage and losses, with $150,000 from the IDB to guide early recovery and the restoration of essential public services.

The humanitarian-assistance component will be implemented in coordination with Cáritas Venezuela, a nonprofit organization with nationwide reach and extensive experience in emergency response, as well as with other multilateral organizations involved in the response, ensuring rapid and effective delivery of aid to affected communities.

“The IDB Group stands with the people of Venezuela during this difficult time,” said IDB Group President Ilan Goldfajn. “This grant package will help meet urgent humanitarian needs while strengthening the country’s damage assessment for emergency response. We will work closely with the government and our partners to support recovery efforts, mobilize resources, and help the affected communities rebuild.”

The IDB is providing its support through a non-reimbursable emergency technical cooperation, the financial instrument available to support borrowing members facing urgent needs due to extraordinary natural events. Additionally, this technical cooperation has been designed to facilitate further resource mobilization.

In addition, the IDB Group's internal fundraising campaign “Together for Venezuela,” launched in collaboration with the Office of the Executive Director for Venezuela and the Bank's employee associations, will support Cáritas to provide emergency assistance and help affected communities recover and rebuild.

The IDB Group will continue working with the government of Venezuela and partners, including United Nations agencies and other humanitarian stakeholders, to support recovery efforts and help strengthen the country's resilience.