The President of the European Bank for Reconstruction and Development (EBRD), Sir Suma Chakrabarti, arrives in Dubai on Sunday for a three day visit during which he will take part in the World Government Summit (WGS), a platform that brings together leaders and policy makers to showcase future trends in government services, leadership, innovation and economic policy.
President Chakrabarti will hold discussions with authorities from the United Arab Emirates, representatives from international organisations and business executives.
He will also address the summit with a keynote speech on the importance of the private sector in the development of successful economies in the southern and eastern Mediterranean (SEMED) region and on overcoming challenges holding back growth.
President Chakrabarti will say that promoting the private sector and entrepreneurial initiative is central to the EBRD’s mandate. He will point out that, after building up this expertise over a quarter of a century, the Bank is committed to applying this knowledge to the SEMED region.
During the summit he will also speak in ministerial sessions on economic diversification and the future of the economy and scenario planning.
The EBRD started investing in the SEMED region in 2012 and has invested almost €5 billion in about 120 projects in Egypt, Jordan, Morocco and Tunisia to date. The activities cover key sectors of the economy such as support for small businesses, agribusiness, infrastructure and energy, with a special focus on renewables. Three-quarters of these investments have been dedicated to the private sector.
Twinned with policy dialogue to improve the business climate, as well as boosting access to finance for small and medium-sized enterprises and putting greater emphasis on inclusion by creating job opportunities for women and young people, the Bank’s investments are helping to promote inclusive growth and enhanced productivity in the region.
The EBRD is also promoting renewable energy and energy efficiency, contributing to the energy security of the SEMED region, which is key for the growth of the private sector.