The Governors represented the EBRD’s then 67 shareholders.
There were two candidates for the position:
- Sir Suma, who was first elected to serve a four-year term in 2012;
- and Marek Belka, the Governor of the National Bank of Poland.
The outcome of the election was decided by secret ballot.
To be elected, a candidate for President had to receive the votes of a majority of Governors, who should represent not less than a majority of the total voting power of members. A double majority was therefore required:
(i) a majority of the votes of the Governors for each member of the Bank (with 67 members this would mean the support of at least 34 Governors); and
(ii) a majority in terms of the total voting power of members (members have different levels of shareholding, based on their numbers of subscribed shares in the Bank, which determines each member’s voting power).
Before the election, both candidates gave interviews to the Center for Global Development in Washington. They were both asked the same questions and given time to set out their positions in a podcast.
Please see below the mission statements of the two candidates in the EBRD’s four official languages.
The previous Presidents were:
July 2008 – July 2012: Thomas Mirow
July 2000 - July 2008: Jean Lemierre
Sep 1998 - Apr 2000: Horst Köhler
Sep 1993 - Jan 1998: Jacques de Larosière
Apr 1991 - Jun 1993: Jacques Attali