WASHINGTON — More effective cooperation with other multilateral development banks will allow the Inter-American Development Bank to have greater impact in Latin America and the Caribbean, new IDB President Mauricio Claver-Carone told Devex.
Claver-Carone, who took up his post Oct. 1, said that the size of other MDBs like the World Bank and International Monetary Fund would allow his regional bank to leverage more capital by the creation, for instance, of joint country platforms where all MDB activity could be coordinated.
“They have space in their portfolio for countries where we don’t, so why shouldn’t we be leveraging each other's balance sheets and portfolios in order to support countries with joint projects?” Claver-Carone said. “But in order to do that — we can do that with other MDBs and also with [development finance institutions] — we need to have joint goals for each of those countries.”