France's Renaud-Basso re-elected as EBRD president

A former director general at the French Treasury and chair of the Paris Club of creditor nations, Renaud-Basso was the sole candidate for the role, the EBRD said. The vote was held during the lender's annual meeting in the Armenian capital Yerevan.

France's Odile Renaud-Basso was re-elected for a second four-year term as president of the European Bank for Reconstruction and Development, the lender said on Thursday. The EBRD, which has 75 shareholders, was set up more than three decades ago to invest in the former communist economies of eastern Europe, and currently operates in Europe, the Middle East, North Africa and central Asia.

Under Renaud-Basso's first term, the lender secured a 4 billion euro capital increase and agreed an expansion of operations into sub-Saharan Africa and Iraq. A former director general at the French Treasury and chair of the Paris Club of creditor nations, Renaud-Basso was the sole candidate for the role, the EBRD said.

The vote was held during the lender's annual meeting in the Armenian capital Yerevan.

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