July 7, 2021
South American development bank CAF said its board elected former Colombian trade minister Sergio Díaz-Granados as its next president to serve a five-year term starting in September.
As LatinFinance reported on Monday, Díaz-Granados secured 11 votes out of the 10 needed to win the election with backing from Colombia, Brazil, Ecuador, Paraguay, Peru and Uruguay, which represent more than 60% of bank’s paid-in capital.
The competing candidate, Christian Gonzalo Asinelli from Argentina, had support
Colombia's former trade minister Sergio Díaz-Granados will lead the South American development bank for five years