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New EBRD managing director for Eastern Europe & Caucasus appointed

Business Materials 16 October 2018 13:58 (UTC +04:00)
Matteo Patrone has been appointed managing director of the European Bank for Reconstruction and Development (EBRD) for Eastern Europe and the Caucasus
New EBRD managing director for Eastern Europe & Caucasus appointed

Baku, Azerbaijan, Oct. 16

By Ilkin Shafiyev - Trend:

Matteo Patrone has been appointed managing director of the European Bank for Reconstruction and Development (EBRD) for Eastern Europe and the Caucasus, the EBRD said in a message Oct. 16.

Patrone has taken over the position from Francis Malige, who was the first managing director of the EBRD’s Eastern Europe hub and has recently been appointed managing director for financial institutions at the Bank’s headquarters in London, according to the message.

Based in Kiev, Patrone will be responsible for the Bank’s operations and engagement in Azerbaijan, Ukraine, Belarus, Moldova, Armenia and Georgia.

The EBRD’s combined investment in the six countries stands at almost 24 billion euros throughout all sectors of their economies to date, the bank said in the message.

“I am honoured and humbled to take on this new position at the EBRD in an exciting region,” Patrone said. “We have seen impressive progress in all countries under my predecessor and it will be my priority to create the conditions for our strong local teams to build on this and expand further. The needs are huge and our offer is attractive. Our aim will be to continue promoting the competitiveness of the local economies as they are moving closer to Europe.”

Azerbaijan has been cooperating with the EBRD since 1992. Since the beginning of cooperation, the Bank has invested over $3 billion in 165 projects in the financial, corporate, infrastructure and energy sectors of Azerbaijan. At the same time, 26 percent of investments falls to the share of the private sector.

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Follow the author on Twitter: @IlkinShafiyev

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