Where next for the EBRD?
As the role of the European Bank for Reconstruction and Development comes under scrutiny in Brussels, president Sir Suma Chakrabarti mounts a vigorous defence of the bank’s unique business model and sets out his vision for its future.
EBRD president Suma Chakrabarti
The European Bank for Reconstruction and Development is a curious beast. Founded to help former communist countries make the transition from state planning to market economics, it now covers a clutch of markets around the Mediterranean from Greece to Morocco.
It is part of the European development architecture, but has a global shareholding, including – since January 2016 and July 2018 respectively – China and India.
It has a mandate to support private enterprise, but in nearly a third of its 37 countries of operation the public sector accounts for more than half of its portfolio. In Bosnia, Moldova and North Macedonia, less than a fifth of the bank’s investment is in the private sector.