Posted: Thursday, September 29, 2022. 11:01 am CST.
By Zoila Palma Gonzalez: Today, the office of the Secretary of the Inter-American Development Bank (IDB) 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.
Reina Irene Mejía, a Honduran citizen, serves as Interim President of the IDB as of September 26, under the direction of the Board of Executive Directors, until a new President is elected, and is the Executive Vice President since December 16, 2020.
“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,” Mejia added.
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