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The election of the President by the Governors, who represented the EBRD’s 75 shareholders, was held in Yerevan, Armenia, at the EBRD’s 33rd Annual Meeting and Business Forum.
Ms Renaud-Basso was first elected at the 2020 EBRD Annual Meeting. Following the 2024 election for the role, in which the candidate stood unopposed, she will be President until 2028.
According to the Rules for the Election of the EBRD President, to be elected President, a candidate must receive a vote of double majority - a majority of the total number of Governors (EBRD has 75 members, which means the support of at least 38 Governors), representing not less than a majority of the total voting power of the members (members have different levels of shareholding, based on their numbers of subscribed shares in the Bank, which determines each member’s voting power).
Timeline and procedure of the 2024 Election of the President
The Chair of the Board of Governors invited Governors to submit nominations at least 90 calendar days before the election at the Annual Meeting.
The nomination period closed after 60 calendar days, on 14 April. Bruno Le Maire, EBRD Governor for France, submitted the name of Ms Odile Renaud-Basso as a candidate for President of the EBRD.
The candidate took part in a hearing with the Board of Directors, no fewer than 15 calendar days before the election.
The candidate also took part in a hearing with the Board of Governors, no less than one calendar day before the election.
Only Governors could nominate candidates. A Governor could nominate just one candidate, who should have agreed to be nominated.
Governors should refrain from nominating a person who has served for two terms or is serving a second term as President.
Any nominated candidate must:
- be a national of an EBRD member country as of the date of the nomination
- have appropriate qualifications and experience for the role
- be an individual of high standing and good reputation
- if elected, comply with the highest standards of integrity and ethical conduct in accordance with the Bank’s Code of Conduct for EBRD Personnel