The new head of the EBRD for Ukraine and Moldova: who is he?

The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Turkner as the new managing director for Ukraine and Moldova. The change will take place on 1 May 2024, when he will replace Matteo Patrone, who has become the EBRD's Vice President for Banking Operations.

The EBRD's statement emphasized that Ukraine is a priority investment area for the bank. Since the beginning of the Russian invasion in 2022, more than 4.1 billion euros have been invested. It also noted that future wartime and recovery investment would be supported by a €4 billion increase in paid-up capital agreed between EBRD shareholders late last year.

Turkner's appointment indicates the importance of the EBRD's relations with Ukraine, especially in the context of the current war. EBRD First Vice President Jürgen Rigterink expressed confidence in Türkner's ability to manage this vital portfolio.

Arvid Türkner has been with the EBRD since 2009, when he joined the bank from the German development bank DEG. He has extensive experience in regional development, having worked in Moscow and London, as well as leading the EBRD in Russia and Turkey. This appointment reflects the trust the bank has in Turkner and his expertise in finance and regional development.