Mauricio Claver-Carone new president of Inter-American Development Bank

Mauricio Claver-Carone new president of Inter-American Development Bank

Wednesday, September 16, 2020

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Mauricio J Claver-Carone has been elected to serve as the fifth president of the Inter-American Development Bank (IDB), effective October 1.

Claver-Carone, who was elected during an electronic meeting of the bank's board of governors on Saturday, will serve a five-year term.

As president, Claver-Carone will oversee the operations of the IDB Group, which comprises the IDB, IDB Invest and IDB Lab. He will succeed current President Luis Alberto Moreno.

Claver-Carone stated that the IDB under his leadership will seek to expand its role as an incubator of new ideas that drive and catalyse private investment, as well as invigorate traditional development tools that can accelerate economic recovery.

“COVID-19 has spurred an economic crisis that risks pushing Latin America and the Caribbean into the largest economic contraction of its history. My 21st-century vision for the IDB is to mobilise the most innovative financial tools, incentives and resources in a targeted and strategic manner that align with the region's needs and build ecosystems of sustainable economic growth. I propose a five-point platform that will define my single five-year term (5-for-5),” Claver-Carone stated in a column published in the Jamaica Observer in July.

This includes prioritising economic growth and development of member countries, leading a whole-of-region approach taking advantage of America Crece — an US initiative to ramp up US private sector engagement and catalyse energy and infrastructure investment in the region —, promoting good governance, strengthening US commitment to the region, and advocating for a one-term commitment for the IDB presidents.

Claver-Carone is currently deputy assistant to the US president, Donald Trump, and senior director for Western Hemisphere Affairs at the US National Security Council. He previously served as US Representative to the International Monetary Fund and as senior advisor to the undersecretary for International Affairs at the US Department of the Treasury.

He earned his Bachelor of Arts degree from Rollins College, Juris Doctor from The Catholic University of America, and Master of Laws in International and Comparative Law from Georgetown University Law Center.

To be elected president, a candidate must receive a majority of the total voting power of the IDB's member countries as well as the support of at least 15 of the 28 regional member countries (26 borrowing member countries, plus Canada and the United States). The IDB has a total of 48 member countries, with headquarters in Washington, DC, and offices in all borrowing countries as well as in Europe and Asia.

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