The Inter-American Development Bank (IDB) is drawing up a two-year engagement plan for Venezuela focused partly on electricity and social protection, its president, Ilan Goldfajn, said on Monday in an interview with Reuters.

“We are, of course, reengaging,” he said, adding that the bank has missions to Venezuela to assess the macroeconomic framework and the data and to draft an engagement note setting out what it plans to do over the next two years. The IDB, the largest development lender in Latin America and the Caribbean, with 48 member countries, stopped making new loans to Venezuela in May 2018 after the country fell behind on payments, and still has about $2 billion in outstanding Venezuelan loans. Goldfajn did not say how the arrears would be addressed or when financing could resume, and said the bank is concentrating on the country’s macroeconomic framework and requirements across individual sectors rather than preparing its own debt-sustainability analysis.