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OPENING STATEMENT BY THE CHAIR OF THE BOARD OF …

AM101e-X 1 EA OPENING STATEMENT BY THE CHAIR OF THE BOARD OF GOVERNORS AM101e-X 2 EA 2013 ANNUAL MEETING OF THE BOARD OF GOVERNORS OPENING STATEMENT BY THE CHAIR OF THE BOARD OF GOVERNORS Your Excellencies, Distinguished Governors, President, Ladies and Gentlemen, It is with great pleasure that I welcome you to the 22nd EBRD Annual Meeting in Istanbul. I feel very privileged to CHAIR this Meeting of the EBRD in the great city of Istanbul, which is very close geographically, and in many other ways, to my country, Bulgaria.

Throughout this speech, I have touched upon the importance of institutional improvement and learning, and I think, before concluding, it is worth also noting the internal changes of 2012 that are part and parcel of this process. The past year ushered in new leadership for our institution and also marked some difficult goodbyes.

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