Who was the first president of the Inter-American Development Bank?

Felipe Herrera was the first president of the Inter-American Development Bank.

The Inter-American Development Bank, commonly called the IDB, was established in 1959 to support economic and social development in Latin America and the Caribbean. Chilean economist and politician Felipe Herrera served as its first president from 1960 to 1971.

The IDB was created by governments in the Western Hemisphere and later expanded its membership beyond the Americas. It provides loans, grants, technical assistance and research for areas such as infrastructure, education, health and public-sector reform.

Herrera’s presidency helped shape the institution’s regional development role. He is sometimes confused with Enrique V. Iglesias, who became the bank’s third president in 1988, or Luis Alberto Moreno, who led it much later. The IDB’s headquarters are in Washington, D.C., and its official languages include English, Spanish, French and Portuguese.