Venezuela proposes the creation of an International Humanitarian Fund for the ALBA countries

The Bolivarian Republic of Venezuela proposed on Monday the creation of an International Humanitarian Fund supported by initial contributions from the Bank of ALBA, with the aim of providing economic support to the member countries of the regional platform in the event of any contingency due to natural or environmental risks.

This was announced by the People’s Power Minister for Foreign Relations, Jorge Arreaza, during the joint telematic meeting corresponding to the XX Political Council and X ALBA-TCP Economic Complementation Council.

“We need to be ready not only for contingencies like COVID-19, but for the hurricane season that always rages in greater magnitude in our brother Caribbean States. Solidarity will be expressed in real time”, he reported.

The Venezuelan Foreign Minister explained that the Bank of ALBA will also develop a new regional financial system with compensation mechanisms, and technical support in all the countries of the region, within the framework of the Post-COVID-19 Economic Contingency Plan, exposed during the meeting.

This plan, drawn from the approaches of the presidents and prime ministers of the member countries, and special guests, during the conference on the post-pandemic economy held on June 10, also contemplates the reactivation of ALBA-Health, ALBA-Food, and the creation of a bank of medicines, supplies, and diagnostic tests for the coronavirus.

Present at the virtual meeting were the Vice-president of Economy, Tareck El Aissami; the People’s Power Minister for Economy and Finance, Simón Zerpa; the president of the Central Bank of Venezuela, Calixto Ortega Sánchez; PDVSA’s Vice-president for International Affairs and Vice-minister for Latin America, Rander Peña, and the President of Banco del ALBA and Vice-minister for the Caribbean, Raúl Li Causi.