Thomas Mirow of Germany was elected the new president of the European Bank for Reconstruction and Development Monday at its annual conference held in Kiev.
"The region where the Bank works still faces many challenges and I am convinced that the EBRD has the skills, the experience and the determination to help the region meet those challenges," said the bank's new head.
Mirow, 55, was the only candidate to replace outgoing Frenchman Jean Lemierre, who will step down in July after eight years in charge of the bank.
"You have made a very good decision in appointing him president of the bank," Lemierre told EBRD governors after they passed a resolution on Mirow's appointment.
The European Bank for Reconstruction and Development started its two-day annual meeting on Sunday to discuss the impact of global economic turmoil and soaring food prices in countries of the former Soviet bloc.