▲ Earthquake in Venezuela
Venezuela has secured funds equivalent to 500 billion won from the International Monetary Fund (IMF).
The funding is intended for the recovery and reconstruction of damages caused by a series of strong earthquakes that occurred last month.
Delcy Rodriguez, the interim president of Venezuela, announced in a statement on the 17th (local time) that the country had secured $346 million (approximately 515.5 billion won).
"The funds will be used to support various needs, including housing, infrastructure, and essential public services for households affected by the earthquake," she explained.
The amount secured is a portion of the capital subscription that Venezuela has deposited with the IMF.
Therefore, Venezuela is not subject to IMF restructuring demands, due diligence, or regulations in using these funds.
IMF Managing Director Kristalina Georgieva also stated on social media that the IMF "worked with key member countries to enable Venezuela to access its own resources within the fund for urgent humanitarian needs."
The series of earthquakes that struck on June 24 caused severe damage to areas including La Guaira State, and the cumulative death toll has surpassed 5,000.
The number of displaced people living in temporary shelters and other facilities has reached approximately 20,000.
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