Moreno re-elected president of IDB

Colombian Alberto Moreno has been re-elected to another term as president of the Inter-American Development Bank (IDB).

Eight Caricom countries - Barbados, Bahamas, Belize, Guyana, Haiti, Jamaica, Suriname, and Trinidad and Tobago - are members of the bank, which was founded in 1959. It currently comprises 48 member countries.

Moreno begins his new term on October 1.

Moreno is the fourth president in the IDB's history. He was preceded by Felipe Herrera of Chile (1960-1971), Antonio Ortiz Mena of Mexico (1971-1988), and Enrique Iglesias of Uruguay (1988-2005).

The IDB said that Moreno's first two terms at the IDB were characterised by reforms to speed up its operations, boost its efficiency, and better evaluate its development impact.

"Under his leadership, the IDB launched several initiatives in areas such as climate change, renewable energy, citizen security, and access to digital technologies. He also built numerous strategic partnerships with public and private allies."