July 27, 2005
JS-2654

Statement of Treasury Secretary John W. Snow on the election of
Luis Alberto Moreno to become President of the
Inter-American Development Bank

I strongly congratulate Ambassador Moreno on his election to the Presidency of the Inter-American Development Bank.  The United States looks forward to working with him in continuing the IDB's important role in the region, and in the process of improving the Bank's effectiveness in meeting the region's challenges. 

The role of the Inter-American Development Bank is evolving, as economic stability and strong growth become the norm in many important countries.  The private sector has emerged as the primary driver of economic growth, and the IDB needs to help unleash the power of the region's entrepreneurs.  We look forward to working with President Moreno, and the member countries of the region and beyond, to develop a focused and effective policy agenda, based on achieving results and development effectiveness, to propel the Bank forward to meet the region's critical need for economic development and prosperity.

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