EBRD: Letter to the editor

To the editor, Euromoney

Dear sir,

In response to your article (“EBRD: There’s no place like home”, January 24), I feel it is important to make the following points:

1) The EBRD president/management did not fail to persuade the Bank’s shareholders a year ago to expand its remit to sub-Saharan Africa because that was not the question that was asked! 

The shareholders were asked at the Dead Sea Annual Meeting in May 2018 to agree to a sequenced set of reviews: could the EBRD do more in its existing region of operations; and then should it consider expanding to countries outside its current geography, with sub-Saharan Africa being the obvious regional candidate.