The head of the Inter-American Development Bank has been working to secure approval for a $2.5 billion loan for Venezuela but has faced pushback from some at the lender’s board.

IDB President Ilan Goldfajn has faced concern from the board about pursuing the lending to Caracas without the typical parallel work of other multilateral lenders, even though the board recognizes the benefits of reengaging with Venezuela, one of the sources said.

The IDB stopped making new loans to the South American country in May 2018 after it fell behind on payments.

Source: MSN