IDB President highly appraises China´s entry

Source: Xinhua | 03-30-2009 08:21

MEDELLIN, Colombia, March 29 (Xinhua) -- President of the InterAmerican Development Bank (IDB) Luis Alberto Moreno has said that he was very satisfied with China's entry into the IDB.

"We are very happy to have found the formula for China to be a share-holder and enter the family of our institutions," Moreno told Xinhua in a recent interview.

Moreno noted that China has tried for 15 years to enter the IDB.

"Without doubts, China is very important for the world economy, not only for it production and commerce, but also for its monetary reserves, which are three times more of those from the European Union," Moreno said.

Moreno pointed out that "China has a clear goal in Latin America and the Caribbean, with which it has a growing commerce that has been multiplied by three times in the last 10 years."

Moreno also stressed that "the IDB has great knowledge on Latin American countries and that is what China needs for its insertion."