Mr Fischer will replace Brigita Schmognerova whose term as vice president ends on August 31, 2010.

In his role as vice president of operational policies, Mr Fischer will be responsible for developing and maintaining high level relations with the authorities of the countries where the EBRD invests.

He will also have overall responsibility for the formulation and delivery of the bank’s policies regarding the areas of the environment and sustainability, which are key to the EBRD’s mandate. He will coordinate the preparation of the EBRD’s strategies for investments in each of its countries of operation.

The position covers procurement matters within the EBRD’s banking operations and oversees the bank’s stakeholder relations department covering the official co-financing unit; civil society engagement unit; gender action initiatives and the bank’s political advisory function. The vice president of operational policies, will, moreover, gradually take over responsibility for the bank’s nuclear safety unit.

Mirow, president of EBRD, said: “Jan Fischer will make an excellent addition to the management team at the EBRD. His experience as a successful and popular prime minister of a country with long-standing links to the EBRD means he is certain to make a particularly strong contribution.

“I would also like to thank Brigita Schmognerova for her tireless dedication to the mandate of the bank. Her commitment especially to the bank’s sustainability agenda and her leadership in driving the EBRD’s campaign to highlight gender issues took the bank to a new level.”