The President of the Inter-American Development Bank, (IDB), Luis Alberto Moreno, will visit Costa Rica,Panama, and Honduras March 1-4 to move forward to discuss the development agenda of the Central American countries. IDB is the largest source of development financing for Latin America and the Caribbean.
One of the goals established by the IDB’s Ninth General Capital Increase is to direct 35 percent of Bank lending to less developed countries by 2015 for programs and products tailored to the countries’ specific needs.
During his trip, Moreno will meet with Laura Chinchilla, President of Costa Rica; Ricardo Martinelli, President of Panama; and Porfirio Lobo, President of Honduras. The meetings will examine priority issues for 2011 and how the IDB can most effectively carry out its mission.
In Costa Rica, the IDB president will sign a memorandum of understanding with President Chinchilla to support the country in the area of citizen security.
In Panama, Moreno will meet with President Martinelli and Lucy Molinar, Minister of Education, to discuss the government’s priorities and plans in the education sector and sign a loan agreement for $30 million to improve access and quality of education in the country’s indigenous areas is to be signed.
Moreno will also visit works underway to expand the Panama Canal. An IDB loan of $400 million awarded to the Panama Canal Authority in late 2008 will help to ensure long-term competitiveness of this waterway and its continued key role in international trade.
In Tegucigalpa, Moreno will meet with President Lobo to review the IDB’s portfolio of projects in that country and discuss areas for Bank support in the coming years