Anca Ioana Ionescu has been appointed the new Director, Head of Bulgaria for the EBRD, and will assume her role in Sofia on 16 December 2019. She will replace Larisa Manastirli.
Ms Ionescu will lead the EBRD’s operations in Bulgaria and manage a portfolio of close to €1 billion.
The Bank is one of the largest institutional investors in Bulgaria and has invested nearly €3.9 billion to date in 253 projects in the country, with the majority in the private sector.
In Bulgaria, the EBRD focuses on enhancing the competitiveness of the private sector; strengthening financial sector intermediation and narrowing the infrastructure gap.
Ms Ionescu said: “I am honoured to take on this new role as Bulgaria’s economy is growing robustly and sound fiscal policies are being recognised in the country’s upgraded credit rating. The EBRD will build on Bulgaria’s macroeconomic performance and its integration into the EU’s financial architecture. We will continue providing financing and advice for successful local companies, banks and infrastructure projects while also supporting the authorities in designing policies that further advance the country towards a sustainable market economy, thus accelerating income convergence.”
For the past six years, Ms Ionescu has been the EBRD’s Head of North Macedonia, based in Skopje, also acting as the interim Head of Kosovo between 2017 and 2018. A Romanian national, she joined the EBRD in 2011 as a senior banker based in Bucharest.
Previously, Ms Ionescu was a director in private equity for ten years, focusing on central and south-eastern Europe, including Bulgaria. During this period, she led the setting-up of fund operations and numerous investments, and held directorships in a range of sectors including energy, telecommunications, real estate and manufacturing.