New Eurasian Development Bank managing director appointed


New Eurasian Development Bank managing director appointedSergey Kostrikov was appointed managing director of the Eurasian Development Bank (EDB) for business-planning, the EDB press-service said on Wednesday.

Initially he will focus on the development of the budgeting system and management of efficiency of the bank’s activities.

Mr Kostrikov has specialised in strategic planning, budgeting and raising the efficiency levels of banks and other financial institutions. He has work experience as a consultant with PricewaterhouseCoopers, IBM and in the financial industry sector with (Ingosstrakh Insurance Company). He has led a number of projects for the EDB improving the bank’s budgeting system for the past few years, Trend reports.

The Eurasian Development Bank is an international financial institution established by Russia and Kazakhstan in 2006 to promote the market economies of the participants, their sustainable economic growth and expansion of mutual trade and economic relations. Its authorised capital is more than $1.5 billion. Member states are Russia, Kazakhstan, Belarus, Tajikistan, Armenia and Kyrgyzstan.