European Bank for Reconstruction and Development President Suma Chakrabarti recently highlighted the successes the development bank has had and outlined its mission moving forward at the bank’s annual meeting in Cyprus.
“Only a truly strong and successful Bank could point to our achievements in Cyprus in the short period we have been active here,” Suma said, according to a press release. “Only a truly strong and successful Bank could point to the impact we have had across all the countries where we work, both last year and in the quarter of a century which preceded it.”
Moving forward, the bank will focus on delivering an increased impact in the regions in which it operates while maintain stability and improving effectiveness and efficiency. Suma isolated competitiveness, governance, sustainability, inclusivity, resiliency and integration as the six transition qualities the bank focuses on when working in the countries it supports.
“We are focused on both the effective delivery of our mission, making sure we spend our time on achieving greater transition impact, and the efficiency of our work, streamlining and simplifying as much as we can,” Suma said. “…As the development finance landscape continues to change, so do the needs and ambitions of recipient countries. I strongly believe that the multilateral development bank system must also evolve.”