Mauricio Claver-Carone: "We close 2021 with a record of more than USD 23 billion in financing"

Mauricio Claver-Carone supo que tendría un doble desafío a la hora de asumir sus funciones como presidente del Banco Interamericano de Desarrollo (BID). Por un lado, romper las barreras de los prejuicios que pretendieron dejarlo de lado en la votación que finalmente lo consagró al frente de la entidad; por el otro, modernizar un banco cuya historia, según él, estaba más relacionada con las relaciones políticas que con el profesionalismo y el “mérito”, como él mismo lo advirtió.

It was in the midst of the world crisis for the Covid-19 pandemic that also had to attend to those challenges. Cree que lo logró: el BID destinó números de financiamiento que no había alcanzado nunca antes en su historia: 23 mil millones, entre créditos, grants y donaciones. “Esta debería ser la nueva normalidad para nuestros niveles de financiamiento”, se entusiasma durante la entrevista.

Pero tampoco esquivó las consultas sobre temas pendientes de la región y que algunas administraciones se empecinan en importar, como la amenaza de invasión rusa a Ucrania.Nor did he stop talking about an issue that he deosts more to the Organization of American States (OAS), for his political dye, than to the institution he presides: Cuba.However, it made it clear that it is anxious because that country adopts a full democracy to be able to integrate into the IDB.

- What balance does its time at the head of the Inter -American Development Bank, taking into account that it took place absolutely in the middle of the pandemic?

- I was elected president of the Inter -American Development Bank (IDB) in the midst of the worst economic contraction in Latin America and the Caribbean in 200 years.The region needs a modern, efficient and results -oriented IDB to help countries quickly overcome this historical challenge.I'm sure we are fulfilling our mission.

The results speak for themselves. Batimos todos los récords institucionales en el 2021.We close the year with a record figure of more than US $ 23.300 millones en financiación y movilizaciones de capital del sector privado.Before my presidency, the IDB had never exceeded the US $ 20 brand.000 million.This should become the new normality for our financing levels.We also create the largest coalition of the private sector in the history of IDB, a strategic association with more than 160 of the world's largest companies, such as Microsoft, Mastercard, Walmart, Amazon and Netflix, among others.This is key because the recovery of the region will be led by the private sector.

We also had a record year in co -financing of the private sector and we fulfilled a promise that I did in another interview with Infobae, when I said that we had to drastically improve the amount of resources that we mobilized with the private sector.At that time, the IDB only got the private sector to contribute 50 cents for every dollar that financed its balance.Today, we are mobilizing around a dollar in the private sector for every dollar of our balance, which represents a 100% increase that is already benefiting countries throughout the region. Para lograr eso, realizamos presentaciones en Wall Street y otros centros financieros para mostrar el nuevo BID y crear asociaciones estratégicas con inversores institucionales como Goldman Sachs, JP Morgan, BlackRock y otros.

We also help the region to capture more than US $ 50.000 million en nuevas inversiones a través de los foros que organizamos en el 2021.In addition, we were appointed key leader in the international scenario on climate financing during COP26, where the United Kingdom government asked us to lead the nature based on nature, an initiative for all international financial institutions. Como resultado, las instituciones financieras están aumentando el financiamiento climático.Another promise that we fulfilled was the creation of the first Climate Fund of the IDB, the Amazon Fund, which we launched in COP26 and that already has almost US $ 1.000 million en compromisos de donantes internacionales.

- But with the Covid-19 pandemic I imagine that he had to reconfigure internal policies.How did your initial plans affect that?Did you change your panorama about certain administrations?

- El BID cuenta con todas las herramientas, los recursos y el talento necesario para ser la institución financiera internacional más sofisticada, innovadora y eficaz del mundo.That is the goal we have set.We have modernized the bank's instruments and established better metrics, based even more on the results.

We also improve our efficiency. Una de las críticas que hice en otra entrevista con Infobae fue que el BID tardaba alrededor de diez meses en aprobar nuevos proyectos y operaciones. Pusimos en marcha una iniciativa llamada “excelencia operativa” y ya hemos reducido los tiempos de aprobación en un 30%, al mismo tiempo que mejoramos la calidad de las operaciones.In addition, we launch the Bank's digital transformation to be at the forefront of innovation and serve our 26 borrowing nations in a better way.This allows us to optimize our help to governments so that they can meet their own digital transformation objectives in order to better serve their citizens.

But the most important asset of IDB is its talent, which comes from our member countries.We gather the most diverse leadership team in the Bank's history, with executives from the entire region, and create incentives for the upward mobility of the staff. Lamentablemente, el Banco había estado plagado de prácticas de “patrocinio político” en las que a quién conocías o de dónde eras resultaba más importante que las habilidades que tenías. El nuevo BID está totalmente basado en el mérito.

We also reinforce the role of women in the bank, since unfortunately they were surrender.We appoint the first head of Cabinet and the Latin American Latin American in the history of the IDB to be our executive vice president.We also change the image of the bank in the region.When I started, only 10% of our country representatives (ambassadors) were women.Today more than 47% are women.The CEOs constantly ask me how we have improved so drastically;My answer is simple: determination.

- Some countries in the region, such as Argentina and Mexico above all, had opposed their candidacy.Did you reverse the image and prejudices that these governments had against them?As it did?

- The new IDB that we have created focuses on the client.Our relationships and support are based on the needs of our clients, who are governments chosen by their citizens.We serve all our clients regardless of their political tendency or ideology.We want all our countries to succeed.My function is apolitical, like our work as an institution. Así es como debe ser y me enorgullece decir que trabajamos estrechamente con los 26 países prestatarios del Banco, sin prejuicios ni excepciones, para ayudarlos a desarrollarse con éxito.

For example, when I started my mandate, the region desperately sought vaccines against COVID-19.Therefore, we dedicate US $ 1.000 million de forma inmediata a la financiación de vacunas, lo que ayudó a prácticamente todos los países.When countries struck in negotiations with private pharmaceutical companies, we were the only international financial institution in creating a coverage mechanism to support bilateral vaccines purchase.

Hoy en día, la región se ha convertido en líder en tasas promedio de vacunación, en parte gracias a nuestro apoyo.It is also the only region in the world that has doubled growth with respect to the low original forecasts of the beginning of 2021, again, with our help. Mi trabajo es romper barreras, romper estereotipos y romper pronósticos. Además, hemos abierto nuevos caminos diversificando nuestra cartera en la región.I am especially proud that in 2021 we created the biggest program in the history of the bank with Peru and Chile, which has been key to increasing confidence in those countries in the midst of political transitions and investor speculation.In Peru, we have worked closely with President (Pedro) Castillo in his work plan.And in Chile, I spoke recently with the president -elect (Gabriel) Boric, with whom I am sure that we are creating important synergies.Also, I spoke recently with the president of Honduras, Xiomara Castro, to devise the way we can better help, such as the largest lender in the country, with the challenges facing her nation.Additionally, in 2021 we established a net disbursement record for Colombia, Ecuador and Guyana, even more diversifying our portfolio.In addition, we have worked closely with Mexico, Panama, Jamaica, Guatemala, Dominican Republic and Paraguay in key Nearshoring initiatives, and with Uruguay, Costa Rica and Barbados as leaders of climatic initiatives.I am proud that we have reinforced the IDB brand as a favorite partner of all Latin American and Caribbean countries.

- The region lives convulsed moments: COVID-19, economic crisis, social, humanitarian crises, regimes that despise the most elementary democratic values...Given this panorama, what nations should the fight for human rights and democracies be at the forefront?

- El Premio Nobel de Economía Amartya Sen sostiene que el desarrollo mejora con la democracia y la protección de los derechos humanos.I could not agree more.The IDB has a whole division dedicated to strengthening institutions for development and we carry out an important work in this aspect throughout the region.

We have also done a pioneering job in transparency and confidence in the region. La confianza es central en las economías avanzadas y las sociedades exitosas; es fundamental para la democracia. Increíblemente, la confianza es menor en América Latina y el Caribe que en cualquier otro lugar del mundo: solo una de cada diez personas de la región confían en sus conciudadanos.We are working hard to change this situation and help governments increase the trust of citizens and investors. La lucha contra la corrupción, el aumento de la transparencia y la generación de confianza son fundamentales para el futuro de la región.The better we help our clients increase trust, create jobs, reduce socio -economic gaps and boost sustainable and inclusive growth, the strongest will be our democracies and the better they will protect the rights of their citizens.

Therefore, and as a result of all the work that I mentioned earlier, we are seeing an increase in investment and interest in the IDB by our non -regional shareholders, such as Japan and our largest shareholder, United States.

- How is this interest reflected?

- In 2021, the United States Senate voted overwhelmingly and bipartisher to authorize a capital increase of up to US $ 80.000 million para el BID.It is the first time that the United States Senate authorizes a general capital increase for the IDB in almost 30 years and the first time in the history of any international financial institution that does even before there is a final agreement on an increaseof capital by the Assembly of Governors.This is a tremendous vote of confidence in the work we do from the IDB, especially in the Washington D.C.Today, where unfortunately the bipartisan consensus is almost non -existent.

- You are a person whose origins have a lot to do with Latin America, but above all with Cuba, which makes it an observer and fighter of what happens in the country.What do you feel when you see a new generation of Cubans that awakens before the abuses of a dictatorship like Díaz-Canel?

- In our inter -American system, political issues are discussed on the other side of the city, on 17 Washington D Street.C., which is the headquarters of the Organization of American States (OAS).In the IDB, which is on 13th Street, our mandate is only to help our member countries achieve their growth and development goals.Cuba is not a member of the IDB.The requirements to be a member of the Bank, including democratic conditions, are determined by the Assembly of Governors of the IDB, not its president.

Dicho esto, si un futuro gobierno cubano cumpliera las condiciones de la Asamblea y se convirtiera en miembro, sería un sueño poder ayudar al país en su reconstrucción económica durante mi mandato como presidente del BID.

- Russia has kept the planet in an unprecedented tension in recent years.It is not clear if Vladimir Putin will invade Ukraine in the next few days, although President Joe Biden predicted that he could do it.At the same time, the Kremlin threatened to install military bases (or increase their presence) in Venezuela and Cuba, as if they were their own colonies.What would be the IDB response if any other Latin American country collaborates directly or indirectly with an aggressor nation?

- About Russia, that question, rather related to politics, would be better to direct it to 17th Street. Pero puntualmente en lo económico, la región no necesita mirar más allá de sus propias fronteras para identificar las principales amenazas a las que se enfrenta. Entre ellas, la autocomplacencia y la tentación de caer en el viejo hábito de confiar en las soluciones a corto plazo y en los altos precios de las materias primas para sobrevivir, en lugar de invertir en su infraestructura para un mejor futuro.

Today, thanks to a large extent to the pandemic and the desire of companies to relocate outside China, the region has a historical opportunity to invest in areas such as digitalization, supply chains, regional integration and sustainable infrastructure forcreate jobs, and face long -term challenges such as climate change.

Another threat is inflation.But if Latin America and the Caribbean focuses solely on containing inflation without implementing reforms and investing in these key areas, we will lose a huge opportunity to reduce systemic costs permanently, such as exorbitant transport prices and expensive public services.The reduction of these expenses will contribute to the creation of short -term jobs, but also during the next decade.

Actually, the greatest threat is that we do not take advantage of this unique opportunity in a generation so that our countries and companies are much more competitive.My job is to ensure that we take that opportunity.

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