Miami banker Eduardo “Eddy” Arriola has been appointed chair of the Inter-American Foundation by President Barack Obama. Arriola, who has served as an IAF board member since 2012, is the founder and chairman of Miami-based Apollo Bank.
The IAF, an independent agency of the U.S. government, was created by Congress in 1969 to provide development assistance to underserved communities in Latin America and the Caribbean. The Foundation said it invests in locally-led initiatives proposed by grassroots groups working to help their communities thrive, with an emphasis on building strong democracies through economic and social change.
Current initiatives led by IAF are focused on encouraging sustainable agricultural practices, preserving natural resources, fostering entrepreneurship and empowering marginalized populations such as rural and indigenous communities, women, and the disabled.
As chair, Arriola said he plans to emphasize connectivity among communities across the IAF’s service area while opening the door to private sector investment in IAF programs.