New IDB Chief Pivots Latin America Bank Away From U.S.-China Feud

(Bloomberg) —The new head of Latin America’s top development bank is trying to steer clear of the global U.S.-China competition, avoiding the course of his predecessor who aimed to use the lender to counter Beijing’s influence in the region.

Ilan Goldfajn, a Brazilian economist who became president in December, said in an interview that the Inter-American Development Bank (IDB), which loaned more than $12 billion last year, is focused on integrating the region’s countries through infrastructure and power projects as well as efforts to protect biodiversity.