The European Bank for Reconstruction and Development (EBRD) is taking a decisive step in West Africa. The institution has chosen Abidjan to establish its presence in Côte d’Ivoire and has appointed Nigerian Asari Efiong as its first country head. Côte d’Ivoire officially became a member and country of operation of the Bank in 2025.
Based in Abidjan, Asari Efiong will lead the launch of the EBRD’s activities, reporting to Heike Harmgart, Managing Director for sub-Saharan Africa. This move follows the 2023 Annual Meeting in Samarkand, where the EBRD’s governors approved an extension of the Bank’s mandate, allowing it to operate in sub-Saharan Africa and Iraq.
Since its creation in 1991, the EBRD has invested more than €215 billion in 39 emerging economies, with nearly 80% directed to the private sector, promoting a transition toward greener, more inclusive, and more digital economies.
An Appointment Full of Promise
For Asari Efiong, the responsibility is significant but also full of promise. “I am deeply honored to take on the responsibility of leading the Bank’s activities in Côte d’Ivoire, a country with robust economic dynamism, tremendous potential, and rich cultural heritage. I look forward to building impactful partnerships and contributing to inclusive, sustainable growth in Côte d’Ivoire,” she said upon her appointment, announced publicly on Tuesday, September 9.
An Impressive International Career
A British and Nigerian national, Asari Efiong has a career that commands respect. Before this appointment, she served as Associate Director at the EBRD in London for over six years (March 2019-June 2025), overseeing key donor partnerships and leading strategic programs, including mobilizing critical financial support for Ukraine.
Her commitment to climate and development issues led her to a secondment at the European Commission in Brussels, serving as Senior Policy Manager- DG NEAR from 2015 to 2019. There, she helped shape international policies while strengthening her global perspective on economic and environmental challenges.
From January 2010 to March 2015, Asari Efiong was Senior Product Development Manager-Climate Change at the EBRD, developing innovative financial instruments to support the ecological transition in emerging economies.
Extensive Experience in International Finance
Before joining the EBRD, Asari Efiong built a solid career in international finance. From September 1999 to March 2003, she worked as an Equity Analyst at Morgan Stanley in London, then from March 2003 to July 2005 at Credit Lyonnais, and finally from July 2005 to March 2008 at Merrill Lynch, honing her analytical skills and understanding of global financial markets.
Asari Efiong holds a degree in Chemical Engineering from the University of Lagos and an MBA from Bayes Business School in London.
