EBRD is bringing together all of its corporate activities under one umbrella with a view to increase investments in enterprises. In particular, EBRD will continue to provide an increased level of much-needed financial support to the financial, energy and infrastructure sectors.
EBRD’s corporate strategy will focus on supporting viable industries, providing finance to help enterprises become more competitive and on widening the industrial base, diversifying away from an over-dependence on a limited number of products.
The bank has appointed Alain Pilloux, senior banker at EBRD, as MD for a new group that includes the bank’s activities in manufacturing and services, technology, agribusiness, private equity/venture capital, property and tourism, and services to mid-sized and small businesses. Mr Pilloux previously headed the bank’s operations in Russia.
Mr Pilloux said: “Our support to economies struggling with the financial crisis remains steadfast. With this change we are able to focus more effectively on the needs of the real economies.”
Varel Freeman, first VP for banking, said: “Our aim is to support businesses, bolster reforms and help economies diversify and to add value to products. We want to create jobs and to improve the livelihoods of millions who have made sacrifices in the last 20 years.”
