As the United States continues to increase sanctions on Venezuela, the Inter-American Development Bank is reportedly planning to give the country $48 Billion in capital—but only if President Nicolas Maduro is overthrown.
This plan was apparently referenced in a pair of confidential documents titled, “Venezuela: Challenges and Opportunities,” which outlined a four-year plan to open the country’s economy to foreign corporations.
The report argues that by promising to pump billions of dollars in capital into the country, the IDB would be persuading foreign governments and businesses to support the push to overthrow Maduro.
With the people of Venezuela battling massive power outages and struggling to gain access to basic resources in recent weeks, members of the IDB were reportedly set to discuss the proposal at the bank’s annual meeting in China last month. But that meeting was apparently cancelled after Beijing learned that a representative for Opposition Leader Juan Guaido was set to attend.
Despite the United States’ attempts to secure support for Guaido, both China and Russia have continued to stand by the Maduro government. And their support has attracted the attention of U.S. officials like National Security Adviser John Bolton.
During a speech announcing new sanctions on the Central Bank of Venezuela…He referred to the countries as “external actors” and warned that any military involvement would be see as a “threat to security” in the region.
The Trump administration has been vocal about its support for Maduro’s removal, and the report on the IDB’s plans for Venezuela claimed that an insider said “the bank sees regime change in Caracas as a question of when, not if, and many believe it will happen soon.”
The funds would be focused on what the documents referred to as “key recovery areas,” which include “Urgent needs of the population,” “Basic infrastructure,” and “Institutional reforms.”
Although it is not clear exactly where the 48-billion-dollars would come from, the report noted that it would be an unprecedented loan for the IDB’s 60-year history.
While the IDB is made up of 48 member countries, the alleged requirement that Maduro must be overthrown before Venezuela receives aid, raises questions about just how much influence the United States has on the bank, and whether this is just one of the options that U.S. officials have claimed is “on the table.”