EBRD elects new president

The European Bank for Reconstruction and Development selected British Suma Chkrabarti as it president up until 2016, international media reports. Chakrabarti will replace the German citizen Thomas Mirow.
The EBRD was founded in 1991 to help former communist countries develop market economies.
For the first time in the history of the EBRD shareholders considered more than one candidate for the role of president.