Representative of France elected as new EBRD President

"The Board of Governors of the EBRD has elected Odile Renault-Basso from France as the next president of the bank," RIA Novosti quoted the EBRD message.

Renaud-Basso, the French Treasury CEO, is expected to take over as head of the EBRD later this year.

The new head of the bank will replace the previous president of the EBRD, Briton Suma Chakrabarti, who headed the bank for two terms.

Earlier, the EBRD gave a forecast for the reduction of Russia's GDP in 2020.