South Bank about to be formally set up

During the Regular Meeting of Council of Ministers of Foreign Affairs of the Union of South American Nations (UNASUR), the South Bank decided to define in June the methodology that will be used to choose the president and directors of the Bank in July.

President Desi Bouterse with three other UNASUR leaders.

The Minister for Foreign Affairs and Human Mobility, Ricardo Patiño, emphasized the need to move forward with "greater flexibility" in the  weeks for the bank to come into full operation.

During the meeting of Foreign Ministers of the South Bank held on May 23 in Galapagos, the Foreign Minister of Venezuela, Elias Jaua announced that it was decided to recommend to the Council of Ministers of the South Bank to formally convene the Board once the appointment of delegates from all member countries is completed in the coming weeks. The board will meet in the last week of June in Caracas, the Bank headquarters.

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