BUENOS AIRES, Dec. 11 (Xinhua) -- The Bank of the South could offer an opportunity to Latin America as it provides an alternative for financing, International Monetary Fund (IMF) Director General Dominique Strauss-Kahn said Tuesday.

    Strauss-Kahn said he could understand the political idea behind the creation of the bank. "It's not a problem, it's maybe an opportunity," he said.

    The IMF chief stressed that the new bank will be an opportunity to the Latin American region as long as it plays its due role in dealing with financing development projects.

    "It might be less efficient or more efficient, we will see," he added.

    Strauss-Kahn was in Buenos Aires for Monday's inauguration of Argentine President Cristina Kirchner.

    The Bank of the South, a regional development bank, was launched Sunday by seven South American countries -- Brazil, Argentina, Venezuela, Uruguay, Ecuador, Bolivia and Paraguay.

    The bank is designed to provide financing for the South American countries and seen as a counterweight to the IMF and the World Bank.