NEW EBRD MANAGING DIRECTOR FOR UKRAINE AND MOLDOVA WAS APPOINTED ARVID TUERKNER

The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Tuerkner as Managing Director for Ukraine and Moldova. As reported by the INFOTAG agency, Ukraine is a priority investment destination for the bank.

“EBRD has allocated over 4.1 billion euros. Future investments in wartime and reconstruction will be supported by an increase in paid-in capital by 4 billion euros, which was agreed with the EBRD and shareholders at the end of 2023,” the statement said.

Tuerkner will replace Matteo Patrone, who, after five years in this position, becomes Vice President of the EBRD.

Mr. Tuerkner, who until now has been Managing Director of the EBRD, will assume his new position on May 1, 2024.

“Mr Tuerkner, who is currently the EBRD’s Managing Director, Türkiye, will take up his new role on 1 May 2024. He will supervise the development of the EBRD programme for Ukraine, which is focussed on five wartime investment themes: support for energy security, vital infrastructure, food security, trade and the private sector, along with policy dialogue helping Ukraine and Moldova to progress towards EU membership.,” the release quoted.

Background “INFOTAG”: Arvid Tuerkner, a citizen of Germany, joined the EBRD in January 2009 from the German development bank DEG as Senior Banker in the Financial Institutions Group in Moscow. In October 2013, he was promoted to Director of Regional Development and Deputy Head of the Moscow Office, and in April 2015, he became Head of the EBRD in Russia.

After moving to London in early 2017 as Director of Corporate Debt, in November of the same year, he was appointed to his current position as Managing Director Türkiye. In this position, Arvid successfully managed the bank's crisis response to the devaluation of the lira in 2018. Under his leadership, the EBRD's business in Turkey continued to grow. Currently, the portfolio is valued at 7.5 billion euros, with 246 active projects and operational assets of 5.8 billion euros.