The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Tuerkner as the new Managing Director of the EBRD in Ukraine and Moldova.

This was reported by the EBRD press service.

Arvid Tuerkner will replace Matteo Patrone in this position, who has served in this role for 5 years and will now become Vice President of the EBRD for banking operations.

The bank emphasizes that Ukraine is a priority investment destination for the EBRD, as over 4.1 billion euros have been allocated since the start of the Russian invasion in 2022.

The EBRD highlighted that this appointment reflects the importance the bank attaches to its relationship with Ukraine, which has lasted for over three decades and has only strengthened with the start of the full-scale war.

Tuerkner will begin his duties on May 1, 2024.