For the first time since the bank was founded in 1991, several people have put themselves forward for the post of EBRD president. Besides Thomas Mirow, the current president, there are four other candidates.

A further point of discussion at the annual meeting will be the effects of the euro crisis on the financial sector in aid recipient countries. In order to soften the impact of the crisis, the EBRD has created an international coordination platform to encourage dialogue between financial institutions and the authorities of the concerned countries. It is also financially active in local finance sectors, taking targeted action to create sound economic conditions locally. In this, the EBRD benefits from many years of experience and a cooperative relationship with its shareholders, including Switzerland.

In autumn 2011, in the wake of the Arab Spring, the bank's mandate was extended to include southern and eastern Mediterranean countries. Several shareholders, including Switzerland, have already ratified the relevant amendments to the statutes. At the annual meeting, the 65 governors will decide on the next steps to be taken towards beginning operations in the countries involved.

Federal Councillor Johann N. Schneider-Ammann will use the occasion to conduct bilateral talks with several other governors and colleagues. He will also sign two SECO-financed projects with the EBRD: one on the promotion of private sector financing in Turkmenistan and the second an innovative EBRD programme to encourage lending in local currencies in partner countries.

Address for enquiries:

Publisher:

State Secretariat for Economic Affairs

Internet: http://www.seco.admin.ch

Federal Department of Economic Affairs, Education and Research

Internet: http://www.wbf.admin.ch