FROM THE OFFICE OF PUBLIC AFFAIRS

The World Economic Forum has released the names of the 100 young leaders selected for the Global Leaders for Tomorrow Program for 2003.  The United States Department of the Treasury is proud to announce that Mr. Jose A. Fourquet was selected for this honor.  Acting Treasury Secretary Kenneth Dam said: “This recognition of an outstanding up and coming leader such as Jose is a tribute to the Department of the Treasury and the Bush Administration’s commitment to finding the best and most qualified candidates to fill positions of great importance in the United States Government.”
   
Mr. Fourquet stated his reaction to this honor: "I am sincerely humbled by my selection as one of this year's Global Leaders for Tomorrow by the prestigious World Economic Forum.  I'm particularly grateful for being the only Bush administration official to be selected this year.  It will be an honor and a privilege to represent the President and all Americans, particularly Latinos, in Davos."

In 1992, the Switzerland-based World Economic Forum developed a special community called "Global Leaders for Tomorrow" (GLTs).  Each year, the Forum’s Management Board selects 100 young (under 37 years of age) leaders from business, politics, the arts and civil society who are dedicated to working together in areas of social and environmental development and entrepreneurship.  The goal of the GLT community is to engage a global network of outstanding individuals who “will play a key role in shaping the world and its global agenda in the coming years.”

This year’s list includes other notable Americans like four time Tour de France Winner Lance Armstrong, Smith Barney Chairman and CEO Sallie Krawcheck, and Carlson Hospitality President and CEO Curtis Nelson.  Previous winners are British Prime Minister Tony Blair, Microsoft Founder and CEO Bill Gates, Spanish Prime Minister Jose Maria Aznar, and Dell Computer Chairman Michael Dell.

Mr. Fourquet is the 12th United States Executive Director of the Inter-American Development Bank (IDB).  A native of Puerto Rico, Mr. Fourquet assumed his duties on December 14th, 2001, becoming the youngest person ever to hold this position.  He also serves as U.S. Executive Director of the Inter-American Investment Corporation and represents the U.S. on the Donors Committee of the Multilateral Investment Fund.

As such, Mr. Fourquet represents the U.S. on the board of the multilateral development bank that provides the largest amount of development aid to Latin America and the Caribbean.  With a capital base of approximately $100 billion, the IDB provides $6-8 billion annually in loans and grants to 26 countries in the region.  The U.S. is the largest shareholder of the IDB with approximately 30% of the capital and voting shares.