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NEWS RELEASE · 26th May 2010
Ministry of Foreign Affairs
The Honourable Lawrence Cannon, Minister of Foreign Affairs, and the Honourable Peter Kent, Minister of State of Foreign Affairs (Americas), today welcomed the nomination of Luis Alberto Moreno for a second term as president of the Inter-American Development Bank (IDB). The minister of foreign affairs is Canada’s IDB governor.

“Canada fully supports Colombia’s nomination of Luis Moreno to a second term as president of the Inter-American Development Bank,” said Minister Cannon. “Canada is an active member of the IDB and values its partnership with the Bank in the delivery of our common social and economic development objectives for the region. As president of the IDB, Mr. Moreno has played an instrumental role in mobilizing significant Bank resources to assist the region in mitigating the effects of the global economic and financial crisis.”

“Mr. Moreno is the best individual to lead the IDB during this critical period,” said Minister of State Kent. “I’m confident his dynamic leadership and in-depth understanding of the region’s economies will continue to generate prosperity throughout the hemisphere.”

Mr. Moreno was elected president of the IDB in July 2005 and took office on October 1, 2005. His current, five-year term will expire on September 30, 2010.

Canada will host the 2011 annual general meeting of the IDB in Calgary, Alberta.