Brazilian Ilan Goldfajn was elected president of the Inter-American Development Bank (IDB) during a special meeting of the Board of Governors on Sunday with delegations attending virtually and in person.
Goldfajn, a former central bank governor, who was nominated by Brazil, will take office for a five-year term on December 19. He defeated four other candidates including Gerard Johnson, who was nominated by the Trinidad and Tobago government.
The Trinidadian is the IDB’s general manager of the Caribbean Country Department with the other nominees coming from Argentina; Mexico; and Chile.
In September, the IDB said the board of governors, following the unanimous recommendation by the board of executive directors, “resolved that Mr. Mauricio Claver-Carone will cease to hold the office of President of the Bank, effective on September 26, 2022.”
In its latest statement, the IDB said Goldfajn will manage the operations and administration of the bank, which works with the public sector of Latin America and the Caribbean.
“In addition, he will chair the Board of Executive Directors of the IDB and the Board of Executive Directors of IDB Invest, which works with the region’s private sector. The president also chairs the Donors Committee of IDB Lab, the Bank’s laboratory for innovative development projects. “
The IDB said to be elected president, a candidate must receive a majority of the total voting power of the IDB’s member countries as well as the support of at least 15 of the 28 regional member countries (26 borrowing member countries, plus Canada and the United States). The IDB has a total of 48 member countries, with offices in all borrowing countries as well as in Europe and Asia.
Goldfajn will be the IDB’s seventh president.