EBRD President holds high- level discussions with EU partners

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The FINANCIAL — European Bank for Reconstruction and Development (EBRD) President Sir Suma Chakrabarti held high-level talks with officials from the European Union (EU) and Belgium on 27-28 September during a two-day visit to Brussels that marked an expansion of the EBRD’s presence in the city.

A senior delegation led by the EBRD President met European Commission Vice-President Jyrki Katainen, who is also the EU’s Governor to the EBRD, EU Commissioners Johannes Hahn and Günther Oettinger as well as Belgian Finance Minister, Johan Van Overtveldt, who represents Belgium on the EBRD’s Board of Governors.

The discussions covered key areas of joint interest between the EU and the EBRD in its countries of operations, where the two institutions work together closely on development across many economic sectors, according to EBRD.

One focus of discussion at these latest talks was how the EBRD could scale up even further its funding of sustainable energy, widely recognised as a key strength of the Bank.

The EBRD is well on the way to meeting a pledge made ahead of the 2015 Paris climate agreement of dedicating 40 per cent of annual investment to climate finance by 2020.

At an event to mark an expansion of the EBRD’s presence in Brussels, Commission Vice-President Katainen praised the strong cooperation with the EBRD. Sir Suma thanked the EU for its role as the EBRD’s single largest donor.

Reflecting the importance of the EBRD’s ties to the EU, the EBRD has recently moved to new premises in Brussels and increased its staffing levels in the city.

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In addition to its Resident Offices in countries across the regions where it invests, the EBRD also has Representative Offices in a small number of donor countries: in Washington, D.C. and Tokyo, as well as in Brussels.


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