Carolina Pimentel
Reporter - Agência Brasil
Brasília - The city of Belo Horizonte has been chosen to host the 47th Governors' Assembly of the Inter-American Development Bank (IDB). Bank president Luis Alberto Moreno estimates that 6 thousand people will attend the event.
This is the fourth time that Brazil will host the Assembly, which is the IDB's highest authority. The meeting is held each year for the purpose of reviewing the bank's operations. The Assembly is made up of the "governors," who are ministers in charge of the economic area in each of the IDB's 46 member countries. Brazil, for example, is represented by its minister of Planning, Paulo Bernardo. Representatives of financial institutions, development agencies, and commercial and investments banks will also participate in the event.
A meeting of the governors of the Inter-American Investment Corporation (IIC) will be going on at the same time as the IDB's Governors' Assembly to discuss ways to promote the development of small and medium-sized firms and capital markets in Latin America.
The IDB, which was founded in 1959, finances projects to reduce poverty, promote social equality, and modernize the State in Latin America and the Caribbean. Brazil, which has been a member of the bank since its creation, holds 11% of its common shares and voting rights.
According to the Ministry of Planning, the IDB currently finances 47 projects in Brazil, with total investments surpassing US$ 7 billion. 23 of these projects involve the federal government, including public enterprises; 18, state governments; and 6, municipal governments. The areas that receive the biggest investments are: transportation (23.9%), reform of the State (13.1%), education (8.6%), housing (6.1%), social development (5%), urban development (4.6%), integrated development (4.3%), tourism (3.6%), and health (2.6%).
One of the projects financed by the IDB in Brazil is the Program to Bolster Micro, Small, and Medium-Sized Enterprises, intended to make the sector more productive and competitive. "The bank's priorities coincide with Brazil's internationally recognized efforts to promote the social inclusion of its population. The IDB is ready to continue supporting this country," Moreno said, after his meeting, yesterday (16), with Brazilian president Luiz Inácio Lula da Silva.
Translation: David Silberstein
