CAF urges Venezuela to create economic opportunities in earthquake-affected areas, not just focus on reconstruction

The CAF Development Bank is calling on Venezuela to prioritize the creation of new economic opportunities alongside infrastructure reconstruction in areas devastated by earthquakes on June 24. Ángel Cárdenas, CAF's infrastructure manager, stressed that recovery efforts must extend beyond merely repairing damaged facilities.

"Recovery cannot happen without opportunities: it is not enough to intervene in infrastructure; economic opportunities must be relaunched in the territories," Cárdenas stated during the "Venezuela Conversa" forum. He explained that CAF has established a fund to support Venezuela across various post-disaster stages, from immediate community response to the rehabilitation of essential services and long-term rebuilding.

The fund, approved by CAF's board, operates with an independent structure and segregated accounts to ensure transparency and traceability of all contributions. CAF initiated the fund with a seed capital of one million dollars and will cover administrative costs, ensuring that all received resources are directed towards planned actions.

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Recovery cannot happen without opportunities: it is not enough to intervene in infrastructure; economic opportunities must be relaunched in the territories.

Cárdenas highlighted the critical challenge of avoiding isolated efforts and resource fragmentation after a disaster of this magnitude. He emphasized that planning must begin with a precise evaluation of damages and the most urgent community needs. "The key is that these resources are allocated to very clear and specific objectives so that they can be measured later, and that is where the diagnosis plays a preponderant role," he added.

CAF is participating in the Post Disaster Needs Assessment (PDNA), a technical evaluation involving organizations like the United Nations, the World Bank, the European Union, and the Inter-American Development Bank. This collaborative effort aims to establish a baseline of the earthquake's impact and define recovery priorities, ensuring that investments are strategically directed.

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The key is that these resources are allocated to very clear and specific objectives so that they can be measured later, and that is where the diagnosis plays a preponderant role.