BAKU, Azerbaijan, September 5. The European Bank for Reconstruction and Development (EBRD) has appointed Hamza Al-Assad as its first Director for Nigeria, marking the Bank’s official entry into the country after it became a member and country of operations earlier this year, Trend reports.
Based in Lagos, Al-Assad will lead the establishment of the Bank’s operations and report to Heike Harmgart, EBRD Managing Director for sub-Saharan Africa. His appointment follows the EBRD Board of Governors’ decision in 2023 to expand the Bank’s mandate to sub-Saharan Africa and Iraq.
Al-Assad previously served as Associate Director for Climate Strategy and Regional Delivery at the EBRD, overseeing green and climate policy in the southern and eastern Mediterranean region. He has also held senior roles in Egypt, Jordan, and at regional investment banks in Cairo and London.
Commenting on his new role, Al-Assad said he looked forward to “working with partners to unlock opportunities and contribute to Nigeria’s sustainable development.”
Since its founding in 1991, the EBRD has invested more than 215 billion euros across 39 economies, with nearly 80 percent directed to the private sector.