IDB to disburse $2 billion to Venezuela at end of October

The first disbursement from the Inter-American Development Bank (IDB) to Venezuela will take effect between late October and early November of this year, for a total of $2 billion, according to the portal AlbertoNews. These funds will go to social strengthening, covering ordinary expenses for the payment of bonuses and improvements in the health and education sectors.

This transfer marks the restoration of financial relations with the multilateral lender after years of interruption. The operation comes after the accumulation of a debt of $2.5 billion, which is being settled through a fund financed with contributions from Qatar, the United Arab Emirates and Turkey.

Meanwhile, the sovereign debt picture has other open fronts. According to El Nacional, a group of Venezuela's creditors is owed $22 billion, representing about 37% of the outstanding debt held by these creditors.

The multilateral bank's plan contemplates total financing of $12 billion for the country, with a second disbursement of $2 billion scheduled for early 2027. However, preliminary assessments by the institution point to internal challenges related to the capacity to execute projects under the current administrative structure.