Inter-American Development Bank says no immediate loans to Venezuela after relations restored

Inter-American Development Bank (BID) President Ilan Goldfajn announced that the bank will not reactivate financing for Venezuela immediately, even though bilateral relations were formally restored after an eight‑year break. The suspension of loans, in place since May 2018 following a Venezuelan default, remains until several issues are resolved, including Venezuela’s outstanding debt and bilateral negotiations.

Venezuela’s appointment of Calixto José Ortega Sánchez as its governor to the BID in June marked the full re‑establishment of ties. During a press conference in Uruguay, Goldfajn said the bank will provide technical and humanitarian assistance for the reconstruction after the twin earthquakes of 24 June, but new credit lines are not yet forthcoming. In a meeting on 23 July, Vice President Delcy Rodríguez discussed non‑reimbursable aid aimed at rebuilding homes, with the assistance subject to audit mechanisms.

The BID’s approach focuses on immediate disaster relief and macro‑economic dialogue while postponing new loan commitments until the pending matters are addressed.