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United Kingdom : Briton wins battle to head European development bank
Publish Date : 21-May-2012
The European Bank for Reconstruction and Development on Friday selected British top civil servant Suma Chakrabarti as its president to 2016, replacing German incumbent Thomas Mirow after a shock vote.
Chakrabarti, 53, is the first EBRD president who is neither German or French.
His candidacy raised eyebrows as it broke a supposed unwritten rule that a Briton would not run for the presidency in return for the bank being headquartered in London.
Founded in 1991 to help former Soviet bloc countries switch and adapt to a market economy, the EBRD is hoping to soon start investing across Arab regions.
