- Member countries can propose candidates
The Office of the Secretary of the Inter-American Development Bank (IDB) has notified the Bank’s Governors that the process to nominate candidates to be the organization’s next President is now open.
IDB Governors can nominate candidates within the next 45 days.
The President of the IDB is elected by the Board of Governors, where each of the 48 member countries is represented by its Governor.
To be elected, the candidate must obtain a majority of the voting power of member countries. The voting power varies in accordance with the quantity of shares each member country holds in the IDB’s ordinary capital. The winning candidate must also be supported by at least 15 of the 28 regional members of the region.
The President is elected to a 5-year term, with the possibility of a one-time reelection.
Under President a.i. Reina Irene Mejía, the IDB’s business is continuing its work of improving lives in the Bank’s 26-member borrowing countries.
“The IDB has a track record of bringing progress and development to the region over more than six decades,” said Mejía. “The IDB’s work is built on solid institutional foundations, ethical values, and operational excellence. Our institution is stronger and more committed to continue making a positive difference in our peoples’ lives.”
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance, and training to public and private sector clients throughout the region.