Times of India (May 19, 2012)
Indian-origin British Civil Servant chosen as president of European
Bank of reconstruction & Development.
LONDON: A British citizen of Indian origin Suma Chakrabarti was chosen
out of a group of five candidates to become the new president of the
European Bank for Reconstruction and Development.
63 government shareholders of the bank chose Chakrabarti as the new
head.
According to the Wall Street Journal, Chakrabarti is the top civil
servant at the Ministry of Justice in UK and prior to that was a top
official at the Department for International Development.
The outcome marked a rare setback for the French and German governments
as they had backed Philippe de Fontaine Vive Curtaz, a French citizen
who works at the European Investment Bank.
The EBRD was established in 1991 to help countries emerging from
Communism make the transition from centrally planned to market
economies.
Although most of its shareholders are European governments, its largest
single shareholder is the US government.
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