The European Bank for Reconstruction and Development (EBRD) has appointed Arvid Türkner, who has held a similar position in Turkey since November 2017, as its new Managing Director for Ukraine and Moldova from May 1, 2024, the bank said in a press release on Wednesday.
“Ukraine is a priority area for EBRD investments, with EUR4.1 billion sent there during the wartime period. Türkner will replace Matteo Patrone, who after five years of work (in Ukraine) will hold the position of EBRD vice president for the banking sector,” the release stated.
The EBRD notes that future wartime and reconstruction investments in Ukraine will be underpinned by the EUR4bn paid-up capital increase approved by shareholders late last year.
“Arvid Türkner’s outstanding performance in his previous role in Turkey gives us great confidence that this vital portfolio is in safe hands,” the statement quotes EBRD First Vice President Jürgen Rigterink as saying.
It is indicated that Türkner will oversee the development of the EBRD’s program for Ukraine, focusing on five wartime investment themes: support for energy security, vital infrastructure, food security, trade and the private sector, as well as political dialogue to help Ukraine and Moldova move towards EU membership.
It is reported that Türkner, a German national, joined the EBRD in January 2009 from the German development bank DEG as a senior banker in the financial institutions group in Moscow. In October 2013, he was promoted to regional development director and deputy head of the Moscow office, and became head of the office in April 2015.
After moving to London in early 2017 as director of corporate debt, Turkner was appointed to his current role as managing director in Turkey in November 2017, where he successfully led the bank’s crisis response to the devaluation of the lira in 2018. Under his leadership and despite recurring macroeconomic volatility, the bank’s business in Turkey has continued to grow significantly: the portfolio is currently valued at EUR7.5bn, with 246 active projects and EUR5.8bn of operating assets. In 2023 alone, the bank signed 48 projects worth EUR2.48bn.
Moldovan Agriculture and Food Minister Vladimir Bola will meet on Monday with sunflower seed producers and processors due to the difficult situation in his country with sunflower oil production. According to the Moldovan news agency Infotag, the decision to discuss the problem was made after Floarea Soarelui, the largest oil producer, shut down two plants. The producers said they had no raw materials, as farmers refused to sell their seeds at the current market price, and sunflower imports are strictly licensed.
“Today, Moldova’s sunflower seed stocks are about 350 thsd tonnes, so any statements about lack of stocks are speculation. At the same time, the pricing policy should be objective, fair and responsible towards the end consumer,” Bola wrote on Facebook.
He emphasized that “by abandoning political statements and relying solely on the economic component,” the Ministry of Agriculture of Moldova will provide a platform for dialogue between seed producers and processors.
“Each party will provide real figures so that we can make decisions and find viable solutions for the new sunflower harvest,” Bola said.
As reported, Moldova has extended the licensing of sunflower seed imports from Ukraine for three months.
President of the European Council Charles Michel said that the European Council has decided to start negotiations on the accession of Ukraine and Moldova to the EU.
“The European Council has decided to start negotiations on the accession of Ukraine and Moldova. The European Council has granted candidate status to Georgia. And the EU will start negotiations with Bosnia and Herzegovina as soon as the necessary degree of compliance with the membership criteria is achieved, and invited the Commission to submit a report by March with a view to making such a decision,” he wrote on Twitter.
Federal Chancellor Karl Nehammer during a meeting with members of the National Council in the main committee on EU issues categorically opposed the “accelerated procedure” of Ukraine and Moldova’s accession to the European Union, the press service of the Austrian parliament reports.
“Nehammer told FPO MPs Petra Steger, Christian Hafeneker and Axel Kassegger that Austria would not agree to negotiate Ukraine’s accession under the current conditions. There should not be any preferential treatment for Ukraine, especially in relation to Bosnia and Herzegovina, which is also currently in accession negotiations,” the statement said.
He also noted that the President of the European Commission Ursula von der Leyen did not hold consultations before announcing the prospect of negotiations on Ukraine’s accession.
Separately, Nehammer noted that in order for the EU to be “suitable” for enlargement, internal reforms must be carried out.
“In general, Austria continues to follow the EU line when it comes to solidarity with Ukraine, but without violating its neutrality,” Nehammer explained. “It is primarily about financial assistance to support Ukraine as a ‘state as a whole,'” the statement said.
Brussels will continue to support Moldova, Ukraine and Georgia in carrying out pro-European reforms, according to a statement issued on Friday following the EU summit.
“The European Union will continue to work closely with Ukraine, Moldova and Georgia and support their reform efforts on their European path,” it said.
The statement says that the meeting also decided that Brussels will support Moldova in addressing the challenges it faces due to the events in Ukraine.
Last March, Georgia applied for EU membership, but has not yet been granted candidate status.
In February 2022, Ukrainian President Volodymyr Zelenskyy signed Ukraine’s application for EU membership. In June of the same year, the EU Council granted Ukraine candidate status.
In June 2022, Moldova was also granted candidate status.
Greek Minister of Infrastructure and Transport Christos Staikouras has initiated the launch of a railway connection between Greece, Bulgaria, Moldova and Romania to connect with Ukraine, Noi.md reports.
According to the report, the Greek minister proposed to launch the train during a summit in Varna (Bulgaria) on October 9 to diversify trade ties between Mediterranean ports and Ukraine.
The Greek government proposes that trains should run to the Greek ports of Alexandroupolis and Thessaloniki from the ports of Ruse in Bulgaria and Constanta in Romania, and then connections could be established with Moldova and Ukraine. This project can become an alternative option in trade relations between the two countries, strengthening transport links and international freight transportation, Greece believes.
The Greek Minister of Transport sent a letter of intent to European Commissioner for Transport Adina Valean, Bulgarian Minister of Finance Assen Vasilev, Bulgarian Minister of Transport and Communications Georgi Gvozdeykov, and Romanian Minister of Transport and Infrastructure Sorin Grindian.
As reported, the European Union is exploring alternative routes for Ukrainian grain through Italy and Greece.
