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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 addresses an audience during the Annual Meeting and Business Forum of European Bank for Reconstruction and Development's (EBRD) in Nicosia, Cyprus May 11,2017. REUTERS/Yiannis Kourtoglou - RC1E7C67D5D0
Yiannis Kourtoglou/REUTERS

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.

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