One of the contenders for the European Bank for Reconstruction and Development presidency offers a few thoughts on the direction the bank must take moving forward.
Jan Krzysztof Bielecki, former prime minister of Poland, writes in the Financial Times that the bank must be run on “sound banking principles with good governance” and place a bigger emphasis on local currency lending and issuance. EBRD should also focus its attention on public and municipal sectors, and spearhead microfinancing and the development of local financial infrastructure for early transition countries.
EBRD, regarded as one of five major multilateral development banks, should also “always” look for ways to simplify processes and give incentives to staff members who excel in their work. Bielecki said it should enhance cooperation with other financial institutions and organizations as well to increase efficiency and not duplicate efforts in assisting transition economies.
Having served as the bank’s director for 10 years, Bielecki said he was able to assist the bank in its “growing role” in the Middle East. And during his recent visits to the region, he found leaders want to hear of real experiences in implementing reforms — not just “recipes for a successful transformation.”
“As a former prime minister of Poland, a former chief executive of a commercial bank, and an ex-director of the EBRD, I believe I am well qualified for the post,” he said, adding that his experience uniquely places him to make a strong contribution to EBRD’s mission.
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