U.S. Treasury Secretary
John Snow has offered his congratulations to Colombian diplomat
Luis Alberto Moreno on his election to the presidency of
the Inter-American Development Bank (IDB).
Colombian diplomat and former minister of economic development Luis Alberto Moreno was elected president of the Inter-American Development Bank during a special meeting of the Bank’s Board of Governors, July 27, 2005, at IDB headquarters in Washington, D.C.
In a statement issued July 27, Snow said
that the United States "looks forward to working with
[Moreno] in continuing the IDB's important role in the region,
and in the process of improving the bank's effectiveness
in meeting the region's needs." Moreno has served as
Colombia's ambassador to the United States since 1998, but
now will relinquish that post.
Amb. Moreno will take office on October
1, 2005 for a five-year term. He will succeed Enrique V.
Iglesias, who resigned his post on May 31. The president
oversees operations of the IDB Group, which is made up of
the Bank and its affiliates, the Inter-American Investment
Corporation and the Multilateral Investment Fund.
Following is the text of Snow's statement:
U.S. DEPARTMENT OF THE TREASURY
FOR IMMEDIATE RELEASE
July 27, 2005
STATEMENT OF TREASURY SECRETARY JOHN W.
SNOW ON THE ELECTION OF LUIS ALBERTO MORENO TO BECOME PRESIDENT
OF THE INTER-AMERICAN DEVELOPMENT BANK
I strongly congratulate Ambassador Moreno
on his election to the presidency of the Inter-American
Development Bank. The United States looks forward to working
with him in continuing the IDB's important role in the region,
and in the process of improving the Bank's effectiveness
in meeting the region's challenges.
The role of the Inter-American Development
Bank is evolving, as economic stability and strong growth
become the norm in many important countries. The private
sector has emerged as the primary driver of economic growth,
and the IDB needs to help unleash the power of the region's
entrepreneurs. We look forward to working with President
Moreno, and the member countries of the region and beyond,
to develop a focused and effective policy agenda, based
on achieving results and development effectiveness, to propel
the Bank forward to meet the region's critical need for
economic development and prosperity.