EBRD President left office

2 Jul Indian-British financier sir Suma Chakrabarti announced his retirement from the post of President of the European Bank for reconstruction and development, said the EBRD website.

The resignation is connected with the expiration of two full terms in office. Chakrabarti became the first President of the EBRD, who has twice won the elections held on an alternative basis (in 2012 and 2016).

He noted that he received a mandate to modernize the Bank was able to realize, achieving greater financial stability, increase the number of members of the EBRD and the countries in which it invests, as well as redirecting more than half of the investments in a green economy.

According to the press service of the EBRD, Chakrabarti will continue to work on issues of international development and environmental issues as head of the Board of Trustees of the British analytical center of ODI and a member of the European Commission, the world health organization. He will be engaged in lectures and Advisory activities.

On 3 July, the acting President of the EBRD will be the first Vice-President Juergen Rigterink. It is expected that a permanent successor Chakrabarti will be elected at the annual meeting of the Bank, which was relocated from 13-14 may, 7-8 October 2020 due to coronavirus crisis.

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