USGLC

Alexia Latortue was confirmed to the Millennium Challenge Corporation (MCC) as the Deputy Chief Executive Officer (CEO).

As Deputy CEO, Ms. Latortue will support the MCC CEO in the Millennium Challenge Corporation’s goal of administering U.S. foreign assistance in the fight against global poverty.

Before joining the Millennium Challenge Corporation, Ms. Latortue had worked as a managing director at the European Bank for Reconstruction and Development. Prior development work within the US government includes Ms. Latortue’s role as Principal Deputy Assistant Secretary to the Department of Treasury’s International Development Policy department.

On Development: Discussing the purpose of development work, Ms. Latortue said: “We simply cannot leave parts of mankind behind, so that is the big goal. In terms of Development Finance Institutions, our role is to come in with investments and build fledgling private sectors.” (source)

On COVID-19: Discussing COVID-19 relief, Ms. Latortue proposed: “We know that there are huge financial packages being approved, particularly in the richer countries, for the COVID response, and so is there a way from the public policy perspective that we can link these massive inflows of finance into some countries to being spent in a way that reinforces certain outcomes particularly in the green space.” (source)

On China: In response to the launch of Beijing’s Asian Infrastructure Investment Bank, then Treasury Deputy Assistant Secretary Alexia Latortue said, “We will continue to engage with China and other countries to encourage the new institution to meet the high standards of the existing multilateral financial institutions”. (source)

On Public-Private Partnerships: In support of public development banks having the capacity to act on a larger scale, Alexia Latortue said, “We need private-sector financing to reach the development goals”. This can be done especially with blending of resources, “which helps us push the frontiers of what markets can do.” (source)

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