EBRD President concludes visit to the United States

EBRD President concludes visit to the United States

EBRD President concludes visit to the United States

The FINANCIAL -- The President of the European Bank for Reconstruction and Development, Sir Suma Chakrabarti, has concluded a short visit to the United States for talks with officials and private philanthropic organisations.

During the two day trip, he held meetings in Washington D.C. and New York to discuss the Bank's work across three continents from Central Asia to North Africa. The focus was primarily on how to enhance cooperation with other financing institutions and organisations in order to enhance the Bank's impact in its countries of operations, according to EBRD.

The EBRD invests around €9 billion a year in projects to build the market economies of its countries and promote reforms.

In Washington, Sir Suma met the President of the World Bank, Dr. Jim Kim, for discussions on the successful cooperation between the two institutions, especially in the area of the green economy and climate change mitigation.

Around a third of the EBRD's investments over the past twelve months were in Green Economy Transition projects. The sector was also the focus of talks with Naoko Ishii, Chief Executive of the Global Environment Facility.

While in Washington, President Chakrabarti took the opportunity to thank the outgoing Assistant Secretary for International Markets at the US Treasury, Marisa Lago, for her engagement with the EBRD in the past years. The United States government is the largest single shareholder in the Bank.

Later, in New York the President met representatives from private philanthropic foundations. The EBRD is investing in many parts of the world where they operate, especially in the poorest countries and those which are hosting refugees from the war in Syria.

The Bank was keen to hear from philanthropists whether there might be room for cooperation with their donor funds used along alongside the Bank's own investments in particular projects.

As the visit ended, Sir Suma said: "We had a number of very useful meetings and I am sure that there is scope to increase our cooperation with the Bank's established partners as well as potential new ones. Such relationships enhance the impact of our operations on the ground in helping to develop economies."