Venezuela

IDB mobilized resources to assist Venezuela following disaster

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Technical mission to assess damage and help prepare emergency financing

The Inter-American Development Bank expressed today its solidarity with The Bolivarian Republic of Venezuela for the tragic flooding of the past few days that has caused massive human and physical losses. The Bank announced prompt relief measures.

The IDB will make available immediately a $50,000 grant for emergency spending on items such as medicines, tents, and other relief supplies to ease immediate human suffering.

In addition, the Bank will redirect available resources from existing loans for a total of about $200 million to address immediate social and infrastructure needs, with particular emphasis on health, education, rural roads and agriculture.

The Bank will soon send a technical mission to help assess the damage and to prepare an emergency loan for the reconstruction of the damaged area and to improve the institutional mechanisms to minimize the effects of future natural disasters.