Andren Kuusvek has been appointed as the new Managing Director of the European Bank for reconstruction and development in Central Asia.

Andren Kuusvek will take up his duties on February 1 this year, overseeing the Bank's operations in Kazakhstan, the Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan and Uzbekistan. The regional office is based in Nur-Sultan, the capital of Kazakhstan. At the moment, the EBRD's investments in the Central Asian region amounted to 15.6 billion US dollars (14 billion Euros).

Mr. Kuusvek is a native of Estonia and a graduate of the Stockholm school of Economics. Prior to being appointed to this position, Mr. Kuusvek worked as the Director for development of financing in national currencies and local capital markets at the EBRD headquarters, and also headed the Bank's operations in Ukraine and Kazakhstan.

As Managing Director for Central Asia, he will replace Bruno Balvanera, who will continue his career outside the EBRD sphere, the EBRD press service reports.

Andren Kuusvek:

"It is a great honor for me to lead the work of the EBRD in such a large and dynamic region. In many ways, I feel like I'm coming home because of my previous experience in Kazakhstan. I will continue to work to support private sector development, further integrate the region into the global economy, and improve the business environment."