{"id":156226,"date":"2025-03-29T09:45:42","date_gmt":"2025-03-29T08:45:42","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=156226"},"modified":"2025-03-29T10:05:39","modified_gmt":"2025-03-29T09:05:39","slug":"idb-opens-board-of-governors-meeting-with-focus-on-greater-regional-integration","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/idb-opens-board-of-governors-meeting-with-focus-on-greater-regional-integration\/","title":{"rendered":"IDB governors meet to advance integration goals"},"content":{"rendered":"

Santiago, Mar 28 (EFE).\u2014<\/strong> The Inter-American Development Bank<\/a> (IDB)<\/strong> on Friday opened the annual meeting of its Board of Governors<\/strong> with a call to deepen Latin American and Caribbean integration<\/strong> and strengthen cross-border, cross-sector collaboration<\/strong> in response to rising protectionism and global trade tensions.<\/p>\n

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\u201cWe need to organize ourselves in a transnational way, and the IDB helps with that,\u201d said IDB President Ilan Goldfajn<\/a><\/strong> during the meeting\u2019s opening session.<\/p>\n<\/blockquote>\n

Held in the Chilean capital<\/strong>, the gathering began Wednesday with preliminary seminars and includes the annual meeting of IDB Invest<\/strong>, the bank\u2019s private-sector arm. It has drawn 3,000 participants from 48 countries<\/strong> across public and private sectors.<\/p>\n

Goldfajn noted that the turnout reflects a shared understanding that \u201cdevelopment requires ideas, investment, but also action from every sector.<\/strong>\u201d<\/p>\n

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\u201cThe IDB must be more than just a bank. We continue working hand in hand with our countries,\u201d he added.<\/p>\n<\/blockquote>\n

\"Chilean
Chilean President Gabriel Boric (L) and the new president of the IDB Board of Governors, Chilean Finance Minister Mario Marcel, take part in the Board of Governors meeting at the Estaci\u00f3n Mapocho Cultural Center in Santiago, Chile. EFE\/Ailen Diaz<\/figcaption><\/figure>\n

Chile Emphasizes Unity Amid Global Uncertainty<\/strong><\/h3>\n

The new chair of the IDB Board of Governors<\/strong>, Chilean Finance Minister Mario Marcel<\/strong>, acknowledged that the global context is complex.<\/p>\n

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\u201cWe are aware that these are challenging times internationally,\u201d Marcel said. \u201cBut we also know that the Latin American and Caribbean region has competitive advantages in a number of areas that allow us to keep moving forward.\u201d<\/p>\n<\/blockquote>\n

As the region confronts geopolitical uncertainty, including the looming implementation of reciprocal tariffs by U.S. President Donald Trump<\/strong>, expected April 2, Goldfajn avoided direct comment but reinforced the importance of regional unity.<\/p>\n

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\u201cIt\u2019s too early to know exactly where we\u2019re headed and what the situation will be,\u201d he told reporters. \u201cWhat we can do is work on regional integration<\/strong>\u2014a region with 660 million people is a major market that can attract investment.\u201d<\/p>\n<\/blockquote>\n

Efforts to integrate Latin America and the Caribbean, he added, would ensure that \u201cthe hemisphere as a whole can become more prosperous.\u201d<\/strong><\/p>\n

Boric: \u201cNo One Will Be Saved on Their Own\u201d<\/strong><\/h3>\n

Chilean President Gabriel Boric<\/strong>, host of the event, delivered a strong appeal for cooperation in his address to ministers.<\/p>\n

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\u201cIsolationism, cutting ties, building walls, and imposing unilateral tariffs will not bring us solutions,\u201d Boric warned. \u201cIt\u2019s precisely joint work\u2014like what the IDB facilitates and supports\u2014that will allow us to keep developing.\u201d<\/p>\n<\/blockquote>\n

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\u201cNo country, no matter how powerful, can face today\u2019s global challenges alone. We need one another. No one will be saved on their own,\u201d he said.<\/p>\n<\/blockquote>\n

\"Inter-American
IDB President Ilan Goldfajn takes part in the Board of Governors meeting at the Estaci\u00f3n Mapocho Cultural Center in Santiago. EFE\/Ailen Diaz<\/figcaption><\/figure>\n

Momentum for Regional Growth and Reform<\/strong><\/h3>\n

Goldfajn reaffirmed the IDB\u2019s focus on progress:<\/p>\n

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\u201cWe\u2019re delivering a message of unity and progress to our members\u2014a message that we\u2019re implementing what was agreed upon last year.\u201d<\/p>\n<\/blockquote>\n

At the 2024 meeting in Punta Cana<\/strong>, the IDB launched its IDB Impact+ strategy<\/strong>, alongside a $3.5 billion capital increase for IDB Invest<\/strong>. Countries have until 2026 to complete the process, but 33 of the 48 member countries<\/strong> have already subscribed or made significant progress\u2014representing more than 70% of the bank\u2019s voting power<\/strong>.<\/p>\n

New Initiatives: IDB Cares<\/a> and Conexi\u00f3n Sur<\/strong><\/h3>\n

This year\u2019s meeting also serves as the launchpad for new initiatives:<\/p>\n