EBRD a natural partner for Indian business, President Chakrabarti says

By Olga Aristeidou

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Sir Suma Chakrabarti spoke at EBRD-FICCI Business Forum in Mumbai

The European Bank for Reconstruction and Development (EBRD) is a natural partner for Indian businesses as they seek to invest across the 38 economies where the Bank promotes private sector development, EBRD President Sir Suma Chakrabarti said.

He was speaking at a business conference in Mumbai arranged to mark India’s membership of the EBRD as its 69th shareholder.

The conference, co-hosted with the Federation of Indian Chambers of Commerce and Industry (FICCI) and with the support of the Export-Import Bank of India, is being held under the banner of: “Mobilising private sector finance in the EBRD region and how Indian companies can benefit”.

The half-day conference brought together key policy-makers, government officials, EBRD experts, investors and prominent business people to highlight the EBRD’s efforts to mobilise private sector finance in the economies where it invests.

President Chakrabarti told business guests at the conference that -- since 1991 when it was founded to support economic development in central and eastern Europe after the collapse of communism -- the EBRD’s horizons had expanded.  “As have those of Indian business,” he added.

The EBRD was now active across three continents, investing from Morocco to Mongolia and Estonia to Egypt. Via its combination of investment and support for policy reform in its regions, the EBRD could and should be the “partner of choice” for Indian business in its countries of operations.

Sir Suma said the EBRD’s emphasis on mobilising private sector finance in the interests of global public goods meant the Bank now stood centre stage of the world’s development architecture as the international community geared up to deliver Sustainable Development Goals by 2030.

“We have become the indispensable development bank. Just as you and the rest of the private sector are now essential for achieving our common vision for the world of tomorrow,” he said.

He added: “As India has now become a part-owner of EBRD I hope Indian companies will become our partners in realising that vision together.”

FICCI is the largest and oldest leading business organisation in India. It serves its members from the Indian private and public corporate sectors and multinational firms, drawing its strength from diverse regional chambers of commerce and industry across states, and reaching out to over 250,000 companies.

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