Chakrabarti handed second four year term

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Chakrabarti handed second four year term

12/05/2016 | The president of the EBRD, Sir Suma Chakrabarti, received strong endorsement from the bank’s shareholders on Wednesday when he was elected to serve a second four-year term, beating off a challenge from former Polish finance minister Marek Belka. The president of the EBRD, Sir Suma Chakrabarti, received strong endorsement from the bank’s shareholders on Wednesday when he was elected to serve a second four-year term, beating off a challenge from former Polish finance minister Marek Belka. Since he was elected to the top job in 2012 after a tight three-way contest, Chakrabarti has increased investment into the region in the face of challenging economic and geopolitical environments. He also took the controversial decision to extend its remit into North Africa investing in Egypt, Jordan, Morocco and Tunisia as well as in Greece and Cyprus. The bank said that under his presidency, it had developed a strategy to reignite the process of transition across its regions, combining a high level of financing with support for policy reform. “I’d like to thank the governors for showing faith in me once again and I look forward to leading the bank as it delivers even greater impact in our countries of operations between now and 2020,” Chakrabarti said. Chakrabarti, a former British civil servant, received backing from the UK. Chancellor George Osborne said he was “best placed to lead the institution for a further four years, capitalising on a positive and progressive vision for the EBRD that steps up its delivery, investment and impact”. The president of the EBRD, Sir Suma Chakrabarti, received strong endorsement from the bank’s shareholders on Wednesday when he was elected to serve a second four-year term, beating off a challenge from former Polish finance minister Marek Belka. Since he was elected to the top job in 2012 after a tight three-way contest, Chakrabarti has increased investment into the region in the face of challenging economic and geopolitical environments. He also took the controversial decision to extend its remit into North Africa investing in Egypt, Jordan, Morocco and Tunisia as well as in Greece and Cyprus. The bank said that under his presidency, it had developed a strategy to reignite the process of transition across its regions, combining a high level of financing with support for policy reform. “I’d like to thank the governors for showing faith in me once again and I look forward to leading the bank as it delivers even greater impact in our countries of operations between now and 2020,” Chakrabarti said. Chakrabarti, a former British civil servant, received backing from the UK. Chancellor George Osborne said he was “best placed to lead the institution for a further four years, capitalising on a positive and progressive vision for the EBRD that steps up its delivery, investment and impact”. Investors are pinning their hopes on Mehmet Simsek, Turkey’s deputy prime minister, as President Erdogan’s errant and ‘economically-disruptive’ policies rattle markets…
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On May 12, 2016
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