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President appoints new economics minister Russia EBRD governor

MOSCOW, March 24 (RIA Novosti) - President Vladimir Putin has appointed the new economics minister as EBRD governor for Russia, the Kremlin press office said on Monday.

Elvira Nabiullina will replace ex-economics minister German Gref on the Board of Governors of the European Bank for Reconstruction and Development, set up to support the emerging private sector in former Communist countries.

The largest single investor in the region, using foreign direct investment and its own finances, the bank is owned by 61 countries.

Nabiullina will also replace Gref, who now heads the country's largest state-controlled savings bank Sberbank, at the National Banking Council, which controls the Central Bank of Russia.

Both positions are traditionally held by the economic development and trade minister.

Nabiullina was promoted from first deputy economics minister to head of the ministry, replacing Gref, after Putin dismissed the government and appointed a new line up in September 2007, three months before parliamentary elections and six months ahead of presidential polls.

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