EBRD appoints new Managing Director for Ukraine and Moldova
The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Tuerkner as its new Managing Director for Ukraine and Moldova. He replaces Matteo Patrone, who after five years in the role moves to become the EBRD’s Vice President, Banking.
A German national, Arvid 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.
“This appointment reflects the importance the EBRD attaches to its relationship with Ukraine, which stretches back over three decades and has only intensified since the start of the full-scale war,” said the Bank’s First Vice President Jürgen Rigterink. “Arvid Tuerkner’s distinguished handling of his previous role in Türkiye gives us great confidence that this vital portfolio is in excellent hands.”
Ukraine is a priority investment destination for the EBRD, with over €4.1 billion deployed there since the start of the Russian invasion in 2022. Future investments in wartime and in reconstruction will be supported by a €4 billion paid-in capital increase agreed by EBRD shareholders at the end of last year.
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