The European Bank for Reconstruction and Development (EBRD) has named Harry Boyd-Carpenter as managing director of green economy and climate action.
EBRD said that the position is critical for the Bank’s delivery of its goal to become a majority green bank by 2025.
During its annual meeting held in October, the EBRD’s board of directors approved the bank’s new five-year strategy that aims at supporting the transition to a green, low-carbon economy in its member countries as one of its key priorities.
In his new role, which he will take up on 1 April 2021, Boyd-Carpenter will be responsible for coordinating the green economy work and climate action agenda of EBRD as well as contributing to further shaping the future of the EBRD’s green economy transition approach.
Prior to his appointment, Boyd-Carpenter acted as the director and head of energy for Europe, the Middle East and Africa.
In September, EBRD’s Associate Director and Deputy Head for Egypt Khalid Hamza told Ahram Online that they are currently in the process of updating its strategy in Egypt, which is expected to be approved in 2021.
It will further the bank’s mandate in tackling Egypt’s most pressing matters, whether in the water sector, upgrading its infrastructure or digitising its economy, it allows Egypt to benefit from the EBRD’s green transaction finance facilities.
According to the EBRD to date, the EBRD has invested more than seven billion euros in 125 projects in Egypt, where the bank’s areas of investment include the financial sector, agribusiness, manufacturing and services, as well as infrastructure projects such as the power sector, municipal water, wastewater services and transport.
Egypt is the largest country of the EBRD’s operations and the biggest investment country for the bank as well.