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The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Turkner as its new managing director in Ukraine and Moldova.
This is reported on the EBRD website.
Turkner, who is currently managing director in Turkey, will begin his new duties on May 1. He will replace in this position Matteo Patrone, who has been the head of the Ukrainian office of the bank since October 2018, and will now become the EBRD's vice president for banking operations.
"Ukraine is a priority investment destination for the EBRD: more than €2022 billion has been placed there since the beginning of the Russian invasion in 4,1. Future investments, during the wartime and for recovery, will be supported by an increase in paid-up capital of €4 billion, which the shareholders of the EBRD have agreed at the end of last year," the bank said in a statement.
Türkner will develop the EBRD's program for Ukraine, focusing on five wartime investment themes: supporting energy security, vital infrastructure, food security, trade and the private sector, as well as “policy dialogue that helps Ukraine and Moldova move towards EU membership ".
“This appointment reflects the importance the EBRD places on its relationship with Ukraine, which dates back more than three decades and has only grown stronger since the start of the full-scale war. Turkner's outstanding performance in his previous role in Turkey gives us greater confidence that this vital portfolio is in good hands," said EBRD First Vice President Jürgen Rigterink.
Turkner is a German citizen. He started working at the EBRD in January 2009 as a senior banker in the group of financial institutions in Moscow. In October 2013, he was promoted to the position of regional development director and deputy head of the Moscow office, and in April 2015 he headed the EBRD office in Russia. At the beginning of 2017, Türkner moved to the position of director of corporate debt in London, and in November 2017 he was appointed to the position of managing director in Turkey.
In this position, Türkner successfully managed the EBRD's crisis response to the 2018 lira devaluation, according to a press release. Under his leadership, despite macroeconomic instability, the bank's activities in Turkey have grown significantly. The portfolio is currently valued at €7,5 billion, it includes 246 active projects and operating assets worth €5,8 billion. In 2023 alone, the bank signed 48 projects worth €2,48 billion.
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