In Brief: EBRD's Alexia Latortue to become deputy at MCC

Alexia Latortue will leave the European Bank for Reconstruction and Development to become deputy CEO at the U.S. Millennium Challenge Corp., Devex has learned. Who: An alum of former U.S. President Barack Obama’s administration, Latortue joined EBRD in 2017 as managing director for corporate strategy. She has worked on the multilateral lender’s possible expansion into sub-Saharan Africa, as well as EBRD’s sometime rivalry with the European Investment Bank. Prior to EBRD, Latortue was principal deputy assistant secretary for international development policy at the U.S. Treasury Department, overseeing the country’s participation in multilateral development banks and other forums. Before that, Latortue, an American who grew up in Puerto Rico, West Africa, and Austria, spent 10 years at the World Bank. Stay tuned: MCC confirmed the appointment Tuesday and said more details on its incoming leadership team would be released in coming days. President Joe Biden’s new administration is steadily rolling out political appointments at key development agencies. Last week, the U.S. International Development Finance Corp. unveiled some of its new top leadership. Between its inception in 2004 and 2019, MCC invested more than $13 billion with 29 countries, working in sectors such as agriculture, education, and health. Mahmoud Bah has been interim CEO since the departure of Sean Cairncross, who was nominated by former President Donald Trump, in January after about a year and half in charge. MCC had four leaders in the year leading up to Cairncross, who focused on innovation, the private sector, accountability, and MCC’s own staff — after concerns about poor morale.