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IDB President reaffirms commitment to Suriname

PARAMARIBO, Suriname – Inter-American Development Bank (IDB) President Luis Alberto Moreno visits Suriname today to meet high-level government officials and visit projects financed by the IDB in his first official trip to the country.

“As the leading source of multilateral finance in the Caribbean, the IDB is firmly committed to a strong partnership with Suriname,” said Moreno. “We need to broaden our support to strengthen competitiveness through private sector development for enhanced economic growth.”

"The activity of the Bank in Suriname has begun to reflect the results of this broader and deeper approach.  We’re looking beyond the development of the coastal areas to help create integrated centers in the rural areas such as the Paranam Industrial and Commercial Park," explained Moreno. "By promoting strategies that complement infrastructure development, projects like these open the country to accelerated growth and create a multiplier effect with synergies between the public and private sectors."

While in Suriname, Moreno will hold discussions with Suriname’s President, Ronald Venetiaan, and will meet with the Vice President of Suriname, Ramdien Sardjoe, and ministers and senior government officials involved in IDB projects. Moreno will have a special audience with Suriname's representative on the Board of Governors of the Bank, Minister of Finance Humphrey Stanley Hildenberg. Moreno is also scheduled to meet with representatives of private sector organizations and civil society leaders.

The IDB is Suriname’s largest multilateral development partner, with lending in 2008–2009 expected to reach $100 million. The total includes a private sector affordable housing program to be supported via a partial credit guarantee.

During his visit, Moreno will also sign an agreement for technical cooperation financing to improve skills and standards in accounting and financial management in Suriname to improve the competitiveness of small and medium-sized enterprises by supporting their adoption of international standards of accounting and financial management.