São Paulo (Vulhapres) – Next Sunday (20), the 48 member countries of the Inter-American Development Bank (IDB) will elect the new president of the institution.
Among the candidates is Ilan Goldfein, the former head of the Central Bank during the administration of Michel Temer (2016-2018), who was nominated by the government of Jair Bolsonaro (PL) and opposed by some members of the Labor Party.
No Brazilian has led the institution since its inception.
The Islamic Development Bank was established in 1959 on the initiative of some Latin American countries led by Brazil, during the government of Juscelino Kubitschek (1956-1961).
It was an attempt to create a multilateral organization in which the region could have a greater voice than institutions such as the World Bank and the International Monetary Fund (IMF), in which the United States and the Europeans tended to wield greater influence.
Currently, the Islamic Development Bank has among its members 28 countries in the Americas, 16 in Europe, such as Germany, the United Kingdom and France, and 4 in Asia (China, Japan, Israel and South Korea).
The United States is the country with the largest voting power at 30%, followed by Brazil and Argentina with 11.4%.
According to the foundation, the head of the Islamic Development Bank is responsible for managing the day-to-day business and managing and managing its operations. He is elected by the Board of Governors, and presides over sessions of the Executive Board, but only votes in the event of a tie. Each member state appoints a Governor, usually the Minister of Finance or Economy.
To be elected, a candidate for president needs the support of states that account for more than 50% of the voting rights and also a majority among America’s members.
Currently, Brazil is represented on the Executive Board of the Bank in a vacant position shared with Suriname, which is occupied by Martha Celier, who until May this year held the presidency of the Special Secretariat of the Investment Partnerships Program.
The Corporation is the world’s largest and oldest regional multilateral development bank. It finances projects related to economic, social and institutional development in Latin America and the Caribbean.
Its resources come from the 48 member states and its financing comes from financial markets, among other sources. Brazil is one of the countries with the highest participation rate among funded projects, serving the federal government, states and municipalities.
As of November 2022, approximately $30 billion is expected for projects under preparation or implementation in Brazil. Among them, programs to promote bio-economy works in the Amazon region, education expansion in Florianópolis (SC), road investments in the state of São Paulo, sustainable livestock farming in Mato Grosso, as well as a series of federal measures.
The Corporation is headquartered in Washington (USA), and has representation in 26 member countries in Latin America and the Caribbean, as well as offices in Madrid (Spain) and Tokyo (Japan).
IDB (Inter-American Development Bank)
Founded in 1959
Its resources come from its 48 member states and its financing in financial markets, among other sources
The voting power is proportional to the state’s subscribed capital
– The United States is the country with the highest voting power in the institution, 30%,
– Brazil and Argentina each have 11.4%
Each member state appoints a Governor, usually the Minister of Finance or Economy
Germany, Argentina, Austria, Bahamas, Barbados, Belgium, Belize, Bolivia, Brazil, Canada, Chile, China, Colombia, Costa Rica, Croatia, Denmark, El Salvador, Ecuador, Slovenia, Spain, United States, Finland, France, Guatemala, Guyana, Haiti, Honduras, Israel, Italy, Jamaica, Japan, Mexico, Nicaragua, Norway, Netherlands, Panama, Paraguay, Peru, Portugal, United Kingdom, Republic of Korea, Dominican Republic, Sweden, Switzerland, Suriname, Trinidad and Tobago, Uruguay and Venezuela
President of the Islamic Development Bank
– Elected by the Board of Governors
– Responsible for day-to-day management
In sessions of the Executive Council, vote only in the event of a tie
Source: IDB (Inter-American Development Bank)
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