EBRD appoints new Director for Eastern Mediterranean region

Hagar Omran
2 Min Read

The European Bank for Reconstruction and Development (EBRD) has appointed Philip ter Woort as its Director for the Eastern Mediterranean region. As part of his remit, ter Woort will be leading the EBRD’s future operations in Jordan, Lebanon, the West Bank and Gaza.

Ter Woort will start his new role on 1 July and will be based in Jordan. He succeeds Heike Harmgart, who was appointed EBRD Managing Director for the Southern and Eastern Mediterranean region (SEMED) in 2019. 

“I am honoured to take on this new responsibility and to continue and expand the significant work that the EBRD is already doing in the region thanks to my predecessor’s work,” ter Woort said, “We will focus on supporting the private sector in overcoming the coronavirus pandemic and, for this, a strong partnership with key stakeholders is critical. The EBRD is a well-established partner in the region and I look forward to building on our strong foundations.”

Ter Woort joined the EBRD in 2009 as Head of Office for Mongolia, based in Ulaanbaatar. In 2013, he was appointed the bank’s first Director, Head of Egypt, and established the EBRD’s operations in the country. After four years he moved to London as Director of Business Development.

Before he joined the EBRD, ter Woort had served in a range of senior roles at Dutch banks and multinational companies in the Netherlands, Belgium, Switzerland and Russia.

The EBRD launched its SEMED region operations in 2012, and to date has invested over €11.5bn in the region, extending from Morocco to Jordan. The bank is working to strengthen the resilience of local economies with a combination of investment and policy engagement.

The EBRD focuses on supporting small- and medium-sized enterprises, promoting agribusiness, and developing infrastructure and local services. It also supports renewable energy and energy efficiency, whilst also working in the development of local capital markets.

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