The Inter-American Development Bank’s board of governors re-elected Luis Alberto Moreno as president of the Washington-based regional development bank. Moreno will start his fresh five-year term in October 2010.
Moreno was the sole candidate for the post. His bid was supported by 35 of IDB’s 48 governors, according to Xinhua.
As IDB president, Moreno also serves as chairman of the Multilateral Investment Fund’s donors committee and Inter-American Corporation of Investments’ executive board.
Moreno’s re-election bid received early support from several IDB member countries, as reported by Devex. These included Canada, Brazil, Argentina, Paraguay, Uruguay and Jamaica.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.