Matteo Colangeli to be EBRD’s Western Balkans, Serbia chief

Matteo Colangeli, who heads the EBRD’s operations in Albania, was promoted to director for the Western Balkans and head of Serbia. He is set to replace Zsuzsanna Hargitai, the next managing director for Central Asia, in mid-May.

Matteo Colangeli has been appointed new director for the Western Balkans region and head of Serbia for the European Bank for Reconstruction and Development (EBRD). He will oversee the bank’s operations in Albania, Bosnia and Herzegovina, Kosovo*, Montenegro, North Macedonia and Serbia, where he will be based.

Last year alone, the EBRD invested EUR 1.3 billion in the Western Balkans, the announcement adds. The bank said its focus is on strengthening the private sector, the promotion of green transition and on boosting connectivity within the region and with European neighbors.

Green development, recovery from coronavirus impact are priorities for Western Balkans

Colangeli is currently heading the EBRD’s operations in Albania. “I am very proud to take up this role and determined to continue strengthening our delivery in the region. We will focus on building back better after the COVID-19 pandemic and work with our partners towards greener, more inclusive and digitalized economies in the Western Balkans,” he said.

An Italian national, Colangeli joined the EBRD in 2005 as a banker in London. He went on to regional banker roles in Ukraine and Bulgaria, especially in the field of energy, before being appointed head of Albania in 2016. Colangeli holds a master’s degree from the London School of Economics and Political Science.

Hargitai takes over EBRD’s activities in Central Asia

Starting on May 17,  he will succeed Zsuzsanna Hargitai, who has been appointed managing director for Central Asia. She will oversee the operations in Kazakhstan, Kyrgyzstan, Mongolia, Tajikistan, Turkmenistan and Uzbekistan, where the EBRD has invested USD 16.5 billion or EUR 13.7 billion through almost 890 projects to date, according to the announcement.

“I am very excited about this opportunity to further strengthen and intensify the EBRD’s activities in this strategically important part of the world. Central Asia holds so much promise and its role is only bound to grow in the coming years. From private sector support to the greening of the local economies, from closing the infrastructure gap, including digitalization, to promoting economic inclusion, the EBRD has significant contributions to make to successfully tackling the challenges ahead,” Hargitai stated.

She is succeeding André Küüsvek, who was appointed president of the Nordic Investment Bank earlier this year. Hargitai spent three years in the current position.