Sir Richard Branson has announced plans for a Venezuela Aid Live concert which aims to raise $100million for food and supplies in the crisis-hit country.

The event will be held on February 22 in the Colombian city of Cucuta, on the border with Venezuela, and live-streamed on the internet.

British star Peter Gabriel is among stars who have pledged to perform at the concert.

'Venezuela is suffering and not that long ago it was the wealthiest country in South America. Now it is facing the worst humanitarian crisis in the Western Hemisphere,' billionaire Branson says in a video posted on www.venezuelaaidlive.com.

Sir Richard Branson has announced plans for a Venezuela Aid Live concert which aims to raise $100million for food and supplies in the crisis-hit country. He revealed the idea in an online video (above)

The event will be held on February 22 in the Colombian city of Cucuta, on the border with Venezuela, and live-streamed on the internet. The logo for the concert is pictured above

The Virgin group founder said he is setting up the concert at the request of national assembly speaker Juan Guaido, now recognised by more than 50 countries as Venezuela's interim president, and jailed opposition leader Leopoldo Lopez, to draw attention to the crisis in Venezuela.

'Our goal is to raise $100 million dollars in 60 days and reopen Venezuela's border so humanitarian aid can finally reach those millions who need it the most,' said Branson.

The musicians scheduled to perform include Venezuelan reggaeton artist Nacho, Spanish singer Alejandro Sanz and Colombians Carlos Vives and Juanes, according to the website.

Humanitarian aid is currently blocked at the border with Colombia. President Nicolas Maduro (pictured) refuses to let it in, saying this would be the first step toward a US invasion.

The Virgin group founder said he is setting up the concert at the request of national assembly speaker Juan Guaido, now recognised by more than 50 countries as Venezuela's interim president

Also on the bill are the singer of the hit song 'Despacito', Puerto Rico's Luis Fonsi, Spanish singer Miguel Bose, and British star Peter Gabriel.

The concert will be held a day before the date on which Guaido has insisted that humanitarian aid will start flowing into the country. It is now blocked at the border with Colombia.

President Nicolas Maduro refuses to let it in, saying this would be the first step toward a US invasion.

'We must break this impasse or soon many Venezuelans will be on the edge of starvation or death,' Branson said.