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IDB Chief Financial Officer to step down in April 2014

The Inter-American Development Bank (IDB) today announced that its Chief Financial Officer, Edward Bartholomew, has decided to step down effective April 30, 2014, in order to pursue other professional interests.

Bartholomew joined the IDB in February 2008, at a time when the Bank was dealing with the consequences of a crisis in the U.S. asset-backed securities market. Under his leadership, the IDB finance team adopted a strategy that allowed the Bank to weather the crisis and reduce risks in its investment portfolio as markets recovered.

During Bartholomew’s tenure as CFO, the IDB also enhanced its financial and risk policies and secured its ninth general capital increase, which will raise its capital stock to $170 billion by 2016 and nearly double its lending capacity.

“I have had a great experience at the IDB working through some very interesting challenges with talented and dedicated colleagues, and am confident that our work over the past few years leaves the Bank well-positioned, as reflected in its AAA credit rating,” said Bartholomew. “But now I’m ready to look for a new professional opportunity.”

IDB President Luis Alberto Moreno said, “We offer our gratitude and appreciation to Mr. Bartholomew for all his important work and contributions to the Bank since his appointment in 2008 and wish him the best in his future endeavors.”

In order to ensure a smooth transition, Bartholomew will continue to serve as CFO while the IDB begins a search for his successor.

The IDB is the leading source of long-term lending for development in Latin America and the Caribbean.

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