Chakrabarti beats Belka and wins second term as head of EBRD

The Board of Governors of the European Bank for Reconstruction and Development has voted to elect Suma Chakrabarti as President of the EBRD for a second four-year term. Chakrabarti won 90 percent of shareholders' votes, easily defeating Poland's central bank head Marek Belka. Speaking after the decision of the Board of Governors, Chakrabarti said: “Being President of the EBRD for the last four years has been a huge privilege. "I’d like to thank the Governors for showing faith in me once again and I look forward to leading the Bank as it delivers even greater impact in our Countries of Operations between now and 2020.” “I’d also like to thank Marek Belka for being such a worthy opponent in what is still that rare thing – a contested election for the job of head of an international financial institution," Chakrabatri said.