Yellen supports ‘significant’ capital increase for IDB’s private sector arm

News Snapshot:

WASHINGTON, Nov 3 (Reuters) - U.S. Treasury Secretary Janet Yellen on Friday said the United States will work closely with the Inter-American Development Bank (IDB) to better integrate supply chains in Latin America and the Caribbean as Washington works to counter China's growing influence. Yellen, who hosted a breakfast for leaders from the Americas Partnership for Economic Prosperity before a White House summit, said Treasury strongly supported efforts by IDB President Ilan Goldfajn to reform the regional development bank's private sector arm, IDB Invest, and backed a capital increase for it. "My team at Treasury is working closely with President...