The Board of Governors of the Inter-American Development Bank (IDB), following the unanimous recommendation of the Board of Executive Directors, has resolved that Mauricio Claver-Carone will cease to hold office as President of the Bank, effective September 26, 2022.
Pursuant to the IDB’s Articles of Agreement, the Executive Vice President, Reina Irene Mejía Chacón, will serve as President, under the direction of the Board of Executive Directors, until a new President is elected.
The election will be held as established in the Agreement and in the Regulations for the Election of the President of the Bank.
The IDB Group and its teams continue to operate normally, to fulfill the mission of improving lives in Latin America and the Caribbean.
Claver-Carone went through a period of accusations against him of being unethical.
The Inter-American Development Bank’s mission is to improve lives. Founded in 1959, the IDB is one of the main sources of long-term financing for the economic, social and institutional development of Latin America and the Caribbean. The IDB also conducts cutting-edge research projects and provides policy advice, technical assistance, and training to public and private clients throughout the region.