July 27, 2005 Statement of Treasury Secretary John W. Snow on the election of I strongly congratulate Ambassador Moreno on his election to the Presidency of the Inter-American Development Bank. The 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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