2011-03-03

IDB meeting to focus on Latin America’s financial state

Luis Alberto Moreno, the Inter-American Development Bank (IDB) president, will head to Canada later this month to attend his institution’s 52nd Annual Meeting of its Board of Governors and its 26th Annual Meeting of the Board of Governors of the IDB’s sister private investment unit, the Inter-American Investment Corporation. (Edgard Garrido/Reuters)

Luis Alberto Moreno, the Inter-American Development Bank (IDB) president, will head to Canada later this month to attend his institution’s 52nd Annual Meeting of its Board of Governors and its 26th Annual Meeting of the Board of Governors of the IDB’s sister private investment unit, the Inter-American Investment Corporation. (Edgard Garrido/Reuters)

By Carlos Andrés Barahona for Infosurhoy.com – 03/03/2011

WASHINGTON, D.C., USA – The Inter-American Development Bank (IDB) will hold its 52nd Annual Meeting of its Board of Governors and its 26th Annual Meeting of the Board of Governors of its sister private investment unit, the Inter-American Investment Corporation, in Calgary, Alberta, Canada, from March 25 to 28.

The IDB, established in 1959, is the largest provider of multilateral development resources for Latin America and the Caribbean. Its focus is to eradicate poverty and inequality, and promote sustainable growth.

The meeting serves as the venue where IDB’s operations and investment for Latin America and the Caribbean will be discussed before a crowd that is expected to include the finance ministers, central bank chiefs and other government officials from the IDB’s 48 member countries.

“The meeting will look at the economic challenges facing Latin America and the Caribbean as well as the Bank’s future operations in the region,” according to an IDB press release. “Participants will also look at the development challenges facing Latin America and the Caribbean in key areas such as private sector investment, climate change, renewable energy, urban development and regional integration, among others.”

“The Calgary meeting will be the key that will provide us with the tools to address the region’s immediate future,” said Germán Quintana, the IDB’s secretary.

As host, Calgary has the opportunity to boost its tourism industry and be the center for dialogue among financial officials, heads of government and representatives from international organizations.

“Canada has long been a loyal supporter of development in Latin America and a substantial contributor to the IDB,” Quintana said.

The Canadian government increased its share in the IDB’s capital budget, helping the bank increase its lending capacity to Latin American and Caribbean nations, Quintana added.

Among those scheduled to speak are:

  • ::Richard E. Waugh, CEO of Canadian bank Scotiabank
  • ::Mark Carney, governor of the Bank of Canada
  • ::Enrique Pescarmona, CEO of Argentine energy conglomerate IMPSA
  • ::Juan José Suárez Coppel, CEO and director general of Petróleos Mexicanos (PEMEX)
  • ::Mario Arana, chairman of Polaris Energy Nicaragua the director of Ram Power Corp.
  • ::Beatriz Espinosa, general manager for Energy Efficiency and Atmospheric Emissions of Brazil’s Petrobras
  • ::Eduardo Paes, the mayor of Rio de Janeiro, Brazil

The meeting also will focus in engaging private companies in education and development initiatives throughout the region.

“We’re excited to have the opportunity to engage companies and governments to invest more in Latin America’s future,” said Fabián Koss, coordinator of the IDB’s Sports for Development Program. “The program Sports for Development has showed that education and sports is the perfect match.”

One of the meeting’s most important seminars is expected to be “The future of oil in a carbon conscious world,” where renewable energy and the region’s oil and gas reserves will be discussed.

Gastón Astesiano, an energy specialist at the IDB, said the meeting represents an “opportunity to plan the region’s goals in terms of renewable energy and to raise awareness about this matter among the member countries.”

Comments and ratings are closed for this article.