Wednesday, May 11, 2016

Marek Belka will not be the head of the EBRD. Chakrabarti elected … – Cable Republic

Briton of Indian descent, Sum Chakrabarti, won the election for the head of the European Bank for Reconstruction and Development. His most serious rival was Marek Belka, a former prime minister and president of the Polish National Bank.

Opportunities Marek Belka declined in March, when US Secretary of State Jack Lew said that the current president “is the best person that can direct the bank.” United have a dominant position in the EBRD and without their support to get the nomination is almost impossible.

Chakrabarti gained 90 percent. voting shareholders, accurately representing the Board of Governors, during the annual meeting in London. In his speech he stressed that the EBRD should return to the Russian market. Bank withdrew from it as a result of sanctions imposed on the Russian Federation, which is guilty of the EBRD’s attention more than five billion euros. – Russia is for us an important place. We need to renew our relationship with the Russian private sector, state administration and talk about new challenges, not only for loans – said Chakrabarti for which it will be a second term as President of the EBRD.

The European Bank for Reconstruction and development was founded in 1991. The main purpose was to finance the investment in the former Eastern bloc countries and in Russia itself. His business expanded and today is present in 36 countries in Asia and Africa.




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dcz Reuters, BBC News, telewizjarepublika.pl


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