Ciudad de México, July 07, 2021 (GLOBE NEWSWIRE) -- The Board of Directors of CAF -development bank of Latin America, composed by the Ministers of Economy and Finance, Presidents of Central Banks and high economic authorities of the shareholder countries, elected today Sergio Díaz-Granados as the new Executive President of the institution.
Sergio Díaz-Granados, who will take office on September 1st, 2021 for a period of 5 years, is a prominent Colombian lawyer who currently serves as Executive Director for Colombia in the IDB Group; He has an extensive career in public and private service, both nationally and internationally, with a special emphasis on regional development and integration issues. He has held the positions of Minister of Commerce, Industry and Tourism of Colombia, Vice Minister of Business Development and President of the Boards of Directors of Bancóldex and ProColombia. He has also been a congressman and chairman of the Economic Affairs Committee of the House of Representatives.
Díaz-Granados is also dean and president of the Coordinating Committee of the Board of Executive Directors of the IDB. He was part of the merger process of the Inter-American Investment Corporation (IIC / IDB Invest) in 2015. He also supported the approval of the second replenishment of the Multilateral Investment Fund (IDB LAB). As Executive Director, he chaired the IDB Policy and Evaluation Committee between 2016 and 2017, and the IIC / IDB Invest Board of Directors Committee between 2018 and 2019.
The president-elect is a lawyer and specialist in Government and Finance from the Externado de Colombia University, with postgraduate studies in Public Management for Social Development carried out at INAP (Spain). He completed higher studies in Constitutional Law, in the University of Salamanca (Spain).
CAF is a leading institution in Latin America and one of the main sources of multilateral financing for the region, with annual approvals that exceed USD 14,000 million for development and regional integration. Since the beginning of its operations in 1970, the institution has approved more than USD 200,000 million to improve the quality of life of Latin Americans. Likewise, CAF has established itself as an important think tank with a global vision and a link between Latin America and the rest of the world.