Banco de Venezuela launches digital housing credits for earthquake survivors

The Banco de Venezuela (BDV) has launched a digital credit program to assist families affected by the earthquakes that occurred on June 24. Managed through the Fondo Venezuela Renace, the initiative aims to facilitate the acquisition of new housing for those who lost their primary residences.

The program offers two distinct financial plans based on property value. For homes valued between $70,000 and $100,000, the state provides a 50% subsidy, with the remaining 50% offered as a 25-year credit at a 5% interest rate. For homes valued up to $70,000, the state provides an 80% subsidy, with a 20% credit offered under the same 25-year term and 5% interest rate. Both plans include a 12-month grace period.

Francesca Alessandrello, BDV's Vice President of Integral Business, stated that the application process is entirely digital via the bank's website. The bank aims to provide a response within five days of receiving a complete file. The funds for this initiative are provided by the Venezuelan government under the direction of Delcy Rodríguez.