EBRD board directors visit Mongolia

By Svitlana  Pyrkalo
@pyrkalo

EBRD board directors visit Mongolia

Representatives of EBRD shareholders to meet country’s leaders, diplomats, businesses and NGOs

A delegation of EBRD Board Directors, which comprises representatives of the Bank’s shareholders, will visit Mongolia on 21-25 September.

They will meet key decision-makers, top government and city officials, representatives of the diplomatic and business communities and civil society.

They will also visit EBRD clients, including the recently commissioned Senj Sant cement plant; IMC hospital; the Gobi cashmere factory; ice cream maker TESO; Gazar Shim, a canned vegetables producer; and clients in the financial sector, namely Khan Bank, Xac Bank and the microfinance institution, Transcapital.

The Directors will also visit the Oyu Tolgoi copper mine in the Gobi desert, the second stage of which may be financed by a banking syndicate led by the EBRD and the International Finance Corporation (IFC).

The delegation will include the host country representative Paul Vlaanderen (Director for the Netherlands, Mongolia, FYR Macedonia, Armenia); Anthony Bartzokas (Director for Greece and Portugal); Heinz Kaufmann (Director for Switzerland, Ukraine, Liechtenstein, Turkmenistan, Serbia, Montenegro, Moldova); Johannes Koskinen (Director for Finland, Norway and Latvia); Enrique Bal (Alternate Director for Spain and Mexico); Gustave Gauquelin (Alternate Director for France); Michel Grilli (Alternate Director for the European Investment Bank, EIB); Makoto Honda (Alternate Director for Japan); Abel Mateus (Alternate Director for Greece and Portugal) and Luyen Tran (Alternate Director for the USA).

A senior EBRD staff delegation, led by the Managing Director for Turkey and Central Asia, Natalia Khanjenkova, will also participate in the mission.

The EBRD is owned by 64 governments and two intergovernmental institutions: the European Union and the EIB. Shareholders are represented at the EBRD’s Board of Directors which oversees the Bank’s activities and strategies. Board representatives regularly visit countries of operations to discuss the implementation of EBRD country strategies and investments.

The EBRD’s latest strategy on Mongolia was approved in June 2013. Its main priorities are diversification, sustainable growth, responsible mining and institutions, and infrastructure and private sector development.

The EBRD is currently the largest financial investor in Mongolia with over €1.1 billion invested to date. Nearly all EBRD-financed projects support private sector companies and banks.