Sir Suma Chakrabarti, the president of the European Bank of Reconstruction and Development (EBRD), cochaired the Kazakhstan Foreign Investors’ Council with President Nursultan Nazarbayev. In May 2014, the EBRD and government of Kazakhstan created the Partnership for Re-Energizing the Reform Process in Kazakhstan to work with international financial institutions to channel US$2.7 billion provided by the Kazakh government into important sectors of Kazakhstan's economy. The partnership will boost investment and drive forward reforms in the country.