Brazil throws support behind US nominee for IDB head

• Brazil on Wednesday came out in support of the United States' candidate to lead the Inter-American Development Bank (IDB), putting the intended nominee, Mauricio Claver-Carone, in a strong position to take over the region's largest lending institution and only its fifth president since its founding in 1959.
• Claver-Carone is the the senior director for Western Hemisphere affairs at the US National Security Council and leads the US government's América Crece program to promote private-sector investments in energy and infrastructure projects in Latin America and the Caribbean.
• Claver-Carone's nomination was seconded by Ecuador. Brazil had been expected to put forth its own candidate. Argentina and Paraguay were also mulling nominees of their own. The US government owns 30% of IDB's shares, while Brazil has 11.4% and Ecuador has 0.61%. Argentina, meanwhile, has 11.4%, followed by Mexico with 7.3%.

(Source: Latinfinance)