In Brief: IDB president praises Biden, looks for collaboration

Inter-American Development Bank President Mauricio Claver-Carone on Thursday praised U.S. President Joe Biden for actions addressing the COVID-19 pandemic and climate change in Latin America and the Caribbean and for developing a new plan combating root causes of Central America migration. Claver-Carone, the first American head of the regional multilateral development bank serving 26 borrowing nations, was an official in former President Donald Trump’s administration but pledges to work closely with Biden to achieve his goals. He gave “kudos” to Biden for joining COVAX, the global COVID-19 vaccine initiative in which the Trump administration had declined to take part. IDB’s planned climate facility also presents a “great opportunity” for Biden, Claver-Carone said. The facility, included in legislation proposing a capital increase for IDB, would decrease the bank’s dependence on other multilaterals for climate finance. “I’m from Miami. I’ve seen climate impact,” Claver-Carone said. “It’s not a political issue for me, and we all know it’s a reality in the region.” Claver-Carone has also expressed interest in working with Biden on the U.S. president’s proposed $4 billion plan addressing root causes of migration from El Salvador, Guatemala, and Honduras. Why it matters: Biden had initially expressed opposition to Claver-Carone’s IDB candidacy, so it was uncertain if Claver-Carone — whose campaign for the post created controversy — would last at the bank. While there’s no clear way for Biden to remove the former Trump official, he could make it difficult for IDB to secure the capital increase resources it needs to be successful to help Latin America with pandemic recovery. What to watch: Claver-Carone is projecting his willingness to work with Biden and define issues where the bank’s interests align with the U.S. president’s. Claver-Carone will need that support if he is to secure the capital increase he has proposed — a key promise from his campaign to lead the bank.