The European Bank for Reconstruction and Development (EBRD) has appointed Larisa Manastirli as the new Director for Bulgaria. Based in Sofia, she takes up her position today, succeeding Daniel Berg, who has moved to Belgrade as EBRD Director for Serbia.
Ms Manastirli joined the EBRD in 2001 in Chisinau as a banker and worked on investments in financial institutions, municipal and environmental infrastructure, agribusiness and the power sector. After a period at the Black Sea Development Bank (2007-12) she returned to the EBRD and became head of the Bank’s operations in the Kyrgyz Republic.
In her new position as Director for Bulgaria, Ms Manastirli will be responsible for the EBRD’s investments and operations in the country and report to Matteo Patrone, Regional Director, who is based in Bucharest.
Ms Manastirli said: “To be appointed Director for Bulgaria is a great honour for me and I look forward to taking on this new task. Bulgaria is an important country for the EBRD. We have a strong team on the ground and we stand ready to widen our support in order to deepen our impact. Our latest macroeconomic forecast for Bulgaria sees modest growth next year and our goal is to convert these green shoots into lasting, long-term and sustainable growth.”
Since the start of its operations in Bulgaria in 1991, the EBRD has invested nearly €3 billion in the country. In July 2015, the EBRD adopted its latest country strategy for Bulgaria, which identifies developing sustainable energy policies and investments, supporting a shift to more sustainable growth focused on competitiveness, and deepening financial intermediation (with greater emphasis on non-bank sectors) as the Bank’s priorities.