merrion street

The Minister for Finance, Mr. Michael Noonan T.D, announced today that he is nominating Mr. Sean Donlon to the Board of the European Bank for Reconstruction and Development (EBRD). Upon ratification by the EBRD Mr Donlon will replace Mr Eoin Ryan who has been the Irish representative on the Board of the Bank since February 2010.

Speaking on the nomination Minister Noonan stated: “I would like to thank Mr Ryan for the work he has done since his appointment in February 2010. Sean Donlon has extensive experience in the Civil Service and has also held a number of non-executive directorships; I have no doubt that he will bring a wealth of experience to his new appointment”.

05 February 2010

Note to Editors

Mr Donlon is a former Ambassador of Ireland to the USA and Mexico and Secretary General of the Department of Foreign Affairs. Since retiring from the Civil Service he has held a number of non-executive directorships, which he will resign upon appointment to the EBRD. Mr Donlon will also sacrifice his entire civil service pension for the duration of his new appointment.

Ireland is a founder member of the EBRD. The Bank, which is based in London, was established in 1991 to help develop a new private sector in the countries of the former Soviet Bloc. The EBRD is the largest single investor in the region and mobilises significant foreign direct investment for the region in addition to the financing it provides itself.