Arvid Tuerkner has been appointed as new EBRD Managing Director for Moldova and Ukraine.
According to the European Bank for Reconstruction and Development, he will succeed Matteo Patrone, who after 5 years in this position becomes EBRD Vice President for the Banking Sector. Arvid Tuerkner was until now Managing Director of the EBRD in Turkey. He will take up his new position on May 1 and will, among other things, oversee the development of the EBRD's program for Ukraine, which focuses on 5 wartime investment themes: supporting energy security, critical infrastructure, food security, trade and private sector, and political dialogue to help Ukraine and Moldova move towards EU membership. It is emphasized that Ukraine is a priority investment area for the EBRD. More than €4.1 billion has been placed there since the start of the Russian invasion in 2022. Future wartime and reconstruction investments will be supported by the €4 billion paid-in capital increase agreed by EBRD shareholders late last year. "This appointment reflects the importance the EBRD attaches to its relationship with Ukraine, which spans more than three decades and has only intensified since the outbreak of full-scale war," said EBRD First Vice President Jürgen Rigterink. "Arvid Tuerkner's outstanding performance in his previous role in Turkey gives us great confidence that this vital portfolio is in safe hands," he said. German national Arvid Tuerkner joined the EBRD in January 2009 from German development bank DEG as a senior banker in the financial institutions group in Moscow. He was promoted to regional development director and deputy head of the Moscow office in October 2013 and became head of the EBRD in Russia in April 2015. After moving to London in early 2017 as Director of Corporate Debt, he was appointed to his current position as EBRD Managing Director in Turkey in November 2017. In this role, Arvid Tuerkner successfully led the bank's crisis response to the devaluation of the lira in 2018. Under his leadership, and despite recurring macroeconomic instability, the EBRD's business in Turkey has continued to grow significantly. The portfolio is currently valued at €7.5 billion, with 246 active projects and €5.8 billion in operating assets. In 2023 alone, the bank signed 48 projects worth €2.48 billion. On the policy side, a broad portfolio of activities has been realized, mainly in the green and inclusive field. //25.04.2024 - InfoMarket.
