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Venezuela Seeks Frozen Funds to Rebuild After Devastating Earthquake

10/07/2026 04:11 - Internacionales

Venezuela Seeks International Funds for Earthquake Reconstruction

According to various international media reports, Venezuelas Acting President, Delcy Rodriguez, has requested assistance from the international community to address the unprecedented crisis.

The Tragic Toll of the Double Earthquake

On June 24, 2026, a rare double earthquake with magnitudes of 7.2 and 7.5 struck Venezuela. As of July 8, 2026, the tragic balance is reported as follows:

  • 3,811 people deceased.
  • 16,740 injured.
  • 17,907 people left homeless.
  • 6,462 lives successfully saved by rescuers.

The ground zero of this catastrophe is located in La Guaira, a coastal state in northern Venezuela located just north of the capital, Caracas. Here, 190 buildings collapsed. The United Nations Development Program (UNDP) estimates that the damages could exceed USD 6.7 billion.

A Ray of Hope: Unlocking Resources to Rebuild

To face this immense tragedy and begin the reconstruction of the country, Acting President Delcy Rodriguez has reportedly taken concrete steps to unlock international funds that were previously frozen due to political disputes:

She requested King Charles III to release USD 1.9 billion in Venezuelan gold reserves currently held at the Bank of England.

She also held talks with the International Monetary Fund (IMF) to access USD 5.1 billion in Special Drawing Rights (SDRs), which are international reserve assets created by the IMF to supplement member countries official reserves.

Furthermore, the creation of an initial fund of USD 200 million has been reported to kickstart immediate reconstruction works. The United Nations (UN) has reportedly expressed its support for the import of prefabricated houses, a swift and safe solution to relocate displaced families.

International Solidarity Shines Through

In the midst of this painful situation, international solidarity shines as a beacon of hope. Countries like Argentina have sent 16 tons of humanitarian aid, joining the efforts of France and other nations. The call for foreign companies to build earthquake-resistant housing marks the beginning of a long but highly hopeful journey toward Venezuelas full recovery.

Source: International news reports compiled by Imago.com.ar

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Alfredo S. Quiroga