Forty-Eight member nations of the Inter-American Development Bank (IADB) will hold a vote session on accepting a representative from Venezuelan opposition chief Juan Guaido, over the next week, to the board of the regional lender, according to bank officials’ statement on Friday.
According to Reuters news reports, the 48-member board of governors have time until next Friday i.e., March 15, to present a vote on the issue. however, it is still unclear what would happen to Oswaldo Javier Perez Cuevas, the representative from embattled Venezuelan President Nicolas Maduro, if voted in support of change and in favour of Guaido.
The IADB marks as the largest source of development assisting Latin America and the Caribbean financially.
On next Friday, if voted to accept Guaido’s representative Hausmann, the IADB would be considered as the first financial institution supporting and backing Guaido. World Bank and the International Monetary Fund have yet to make such a decision.
The United States has said billions of dollars of financing to rebuild the Venezuelan economy will be required from the multilateral banks when Maduro will step down.
Venezuela, facing years of food and medicines shortages, war paralyzed on Friday by a worst electric power blackout in decades. The US and its allies have backed Guaido.