Sir Suma Chakrabarti has been elected to serve as President of the European Bank for Reconstruction and Development (EBRD) for a second four years term.
The UK Chancellor George Osborne welcoming the election said, “I am pleased to welcome the appointment of Sir Suma Chakrabarti to a second term of office as President of the European Bank for Reconstruction and Development.
“Building on his track record of success since 2012, Sir Suma is best placed to lead the institution for a further four years, capitalising on a positive and progressive vision for the EBRD that steps up its delivery, investment and impact.”
57 year old Chakrabarti was first elected as President of the EBRD in 2012, the first British President in the EBRD’s 25 year history. Under his stewardship, since 2012 the EBRD has acted flexibly to deliver targeted investment across Europe, against a backdrop of challenging economic and geo-political environments.
Supported by the track record of his first term of office, Sir Suma has shown he is the best person to lead the EBRD as it expands new markets and leverages private investment in Europe, including supporting small and medium enterprises to grow and expand.
The EBRD was founded in 1991 with its headquarters in London. It has 67 shareholders and operates in over 30 countries across Europe, central Asia and the southern and eastern Mediterranean. Governors elect a President for the EBRD every four years by a majority vote following nominations for the Presidency.
Prior to this appointment, Sir Suma was Permanent Secretary of the British Ministry of Justice, and also headed the UK’s Department for International Development. Suma was born in 1959 in Jalpaiguri, West Bengal, India, and then moved to the UK, while he was quite young. He was educated at City of London School; New College, Oxford (BA in Philosophy, Politics, and Economics); and the University of Sussex (MA in Economics). He is married and has one daughter.
