EBRD President initiates partnership discussions with American philanthropists

By EBRD  Press Office

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Suma ends Washington visit

Sir Suma Chakrabarti has meetings in Washington and New York

The President of the European Bank for Reconstruction and Development, Sir Suma Chakrabarti, has concluded a visit to the United States to initiate high level discussions with private philanthropic organisations.

During the two day trip he held meetings in Washington D.C. and New York to discuss the Bank's work across three continents from Central Asia to North Africa. The focus was, primarily, on how to expand cooperation with other financing institutions and organisations in order to enhance the Bank's impact in its countries of operations. The EBRD invests around €9 billion a year in projects and promotes policy reforms to build the market economies of its countries of operation.

In both Washington D.C. and New York the President met representatives from private philanthropic foundations. These foundations work in the areas where there is strong overlap with the EBRD’s operational priorities, in particular in the area of sustainable cities and green economy, refugee crisis response and economic inclusion. The Bank was keen to hear from philanthropists whether there might be room for cooperation with their donor funds used alongside the Bank's own investments in particular projects as well as its policy and research work.

While in Washington, President Chakrabarti met with the President of the World Bank, Dr. Jim Kim, CEO of IFC, Philippe Le Houerou, and with the newly appointed CEO of IBRD/IDA, Kristalina Georgieva, for discussions on the successful cooperation between the EBRD and these institutions. Cooperation in the area of climate change mitigation and green economy was the main topic for discussion during the meetings with Naoko Ishii, Chief Executive of the Global Environment Facility, and with Rachel Kyte, CEO of Sustainable Energy 4ALL. The President also had meetings at the US Treasury, Brookings Institution and Centre for Global Development.

As the visit ended, Sir Suma said: "We had a number of very useful meetings and I am sure that there is scope to increase our cooperation with the Bank's established partners, as well as potential new ones. Such relationships enhance the impact of our operations on the ground in helping to develop economies."

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