EBRD President Sir Suma Chakrabarti will attend the Spring Meetings of the International Monetary Fund and World Bank in Washington, D.C. this week and also open a Representative Office for EBRD business development activities in North America.
During his visit, Sir Suma will make a speech at the Center for Global Development (CGD) on how the EBRD is responding to new challenges in the emerging countries where it invests to help promote effective market economies.
Set up in 1991, the EBRD invests in the emerging economies of 36 countries in Europe, Asia and North Africa.
The speech to the Center for Global Development – “The EBRD, a changing bank for a changing world” – will begin at 16.00 EST (20.00 GMT) on 14 April at the Washington, D.C. headquarters of the CGD.
In his speech to the CGD, Sir Suma will explain how the EBRD is adapting in order to address new challenges facing the countries where it invests.
In addition to outlining the EBRD’s expanding geographic reach, he will focus on the Bank’s work to increase the resilience of economies across the EBRD regions, especially by bolstering inclusive economic institutions and making economic structures more robust.
He will explain how the Bank is strengthening governance and policy reform, working towards systemic transformation via increased engagement with governments.
He will also outline the EBRD’s more intense focus on dealing with major global challenges such as climate change, through the Bank’s decision to scale up its climate finance.
The decision by the EBRD to open an office for North American business development is part of its broader strategy of expanding the geographic source of funding for projects in the EBRD regions. It recently opened its first Representative Office in Tokyo.
The EBRD’s office in Washington, D.C. will aim to deepen links with companies in Canada, the United States and Mexico.
At a ceremony to mark the opening, Sir Suma will say, “This office will allow the EBRD to seek out prospects for cooperation with leading North American companies that can bring much-needed investment finance, as well as crucial skills, to emerging markets in the EBRD regions.”
Ahead of the opening, the EBRD President will take part in a panel discussion at 11.00 EST on 14 April at the Global Connect Initiative taking place at the World Bank. Sir Suma will underscore the importance of connectivity in fostering innovation, economic inclusion, social cohesion and regional integration among the emerging countries where the EBRD works.
He will explain how the EBRD supports connectivity via its own Knowledge Economy Initiative which was launched two years ago.
The President will demonstrate that with its investments and support for policy reform the EBRD is promoting the sustainable expansion of communications networks, improving the quality of wired and wireless platforms and facilitating the emergence of new technologies.
On Saturday 16 April, Sir Suma will take part in the Global Infrastructure Forum 2016, a discussion with the heads of other development banks. In his remarks to the panel he will stress the importance of the development of local capital markets and its relationship to investment.
International financial institutions, such as the EBRD, can play a crucial role as catalysts for investment by others and should do everything they can to help countries create the right conditions for investing in their infrastructure, he will say.
In addition to his public appearances, the EBRD President will hold bilateral discussions with senior officials from EBRD shareholder countries, including from recipient and non-recipient countries, as well as with the leaders of other development institutions.
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2014 The Global Indian New Network (TGINN)