BAKU, Azerbaijan, July 8. The European Bank for Reconstruction and Development (EBRD) has appointed Jahan Shamsiev as its new Head of Mongolia, with his term set to begin on September 1, 2025, Trend reports.
He will be based in Ulaanbaatar and will succeed Hannes Takacs, who held the post from 2020 to 2025.
In his new role, Shamsiev will lead the bank’s operations in Mongolia, a country where the EBRD is the largest institutional financier of the private sector. The bank's focus in Mongolia includes economic diversification, sustainable development, and support for responsible mining practices.
“I would like to use my professional and regional experience to promote inclusivity, green initiatives, and digital transformation in this country,” said Shamsiev. “The EBRD is committed to helping Mongolia achieve long-term sustainable growth, and I’m looking forward to contributing to this important mission.”
Since the start of its operations in Mongolia, the EBRD has invested nearly 2.6 billion euros in the country’s economy through 158 projects, with around 90 percent of that funding directed toward the private sector. The Bank's strategy in Mongolia prioritizes support for SMEs, the green economy, financial sector resilience, and regional connectivity.