According to Estonian Minister of Economic Affairs and Information Technology Tiit Riisalo (Eesti 200), the joint agency will play an important role in increasing Estonia's economic growth. "In the years to come, our economy will be focused on increased productivity, added value and sustainability. However, challenging economic conditions require flexibility and well-targeted actions to create this added value, and to that end, EAS-Kredex is our key instrument. The new head will  also certainly be working closely with us to make the agency more efficient," Riisalo said in a press release.

According to Sille Kraam, deputy secretary general at the Ministry of Economic Affairs, Kusmin was chosen due to the diversity of her previous experience. "Kati Kusmin has managed several large organizations in both the private and public sector. This is very important because the joint undertaking needs someone [who understands] the needs of businesses but at the same time, the logic of the public sector. Her innovative mindset stood out, as did the fact that she has been a driver of change. This will be an asset when it comes to completing the process of merging the two institutions," said Kraam.

"I would also like to thank Sigrid Harjo for her leadership of the board throughout the interim period," Kraam added.

Kusmin currently heads state real estate company Riigi Kinnisvara AS (RKAS), which she took charge of in November 2017.

Kusmin said that she is joining the organization at an exciting time, as the merger has reached an  important phase, which involves the creation and implementation of a common working culture.

"Although the two organizations have merged both legally and physically, an integral part of that merger is the creation and implementation of a common culture of cooperation. The aim is to create an environment, together with the staff of the combined institution, where everyone feels like part of a team and shares common values," Kusmin said.

Kusmin will take up her new position as chair of the joint EAS-Kredex management board on December 6, with a gross monthly salary of €9,500.

The search for a new foundation chair started in May with applications accepted until August 18. The decision to appoint Kusmin was made on Tuesday September 26.

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