Similarly to the IMF, member countries are allocated votes at the . MIGA has its own separate Board of Directors, consisting of 25 members. Bank executive with Chase Manhattan Bank; former Executive Director of the World Bank 4 George Woods: January 1, 1963 - March 31, 1968 United States Investment banker and bank executive with First Boston Corporation 5 Robert McNamara: April 1, 1968 - June 30, 1981 United States Business executive with Ford Motor Company; 5544 0 obj <>stream /Contents [ 45 0 R 46 0 R ] Other meetings such as Board Committee meetings are held at various other times whenever required. The World Bank Group works in every major area of development. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. While there are four Boards, Executive Directors serving on these Boards are usually the same. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Jin is the inaugural President and Chair of the Board of Directors. /ExtGState << /GS1 34 0 R >> 32 0 obj 558 0 742 0 498 444 ] Bank Information Center is a 501(c)(3) organization. C[YyzmW)dRJ{y }.KT^B!Z6'r=Y o 7{ZZM[\~kV:4m(` 2 Under the IBRD Articles of Agreement, the Executive Directors are . Executive Directors and Alternates of the World Bank and Their Voting Power | June 30, 2021 IBRD IDA Executive Director Alternate Casting votes of Total votes % of total Total votes % of total Appointed Elected Hayrettin Demircan (Turkey) Guenther Schoenleitner (Austria) Austria, Belarusa, Belgium, Czech Republic, Hungary, Kosovo, The Executive Directors are responsible for conducting the day-to-day business of the World Bank. This site uses cookies to optimize functionality and give you the best possible experience. >> The World Bank Group works in every major area of development. endobj /Length1 56880 We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. In the event that an Executive Director elected during the regular election terminates service before the next regular election, the constituency affected by the vacancy holds an interim election for a successor. Mission, Strategic Plan, Program Areas, Services, Tools, Board of Directors, Financial Statements, Annual Reports, Budget, International Development Association (IDA). << Under theIDA Articles of Agreementand theIFC Articles of Agreement, the Executive Directors of IBRD serve, ex officio, as Executive Directors of IDA and as members of the Board of Directors of IFC. h{y|TU:cU@Db@AQBBTQ @,"# Vh*@ The Executive Directors consider and decide on loan and credit proposals made by the President, and they decide policy issues that guide the general operations of the Bank. I expressed strong support for Japans work on global health, Ukraine, debt transparency, and MIGA during our constructive discussion. The Board of Directors performs its duties full time at the ADB headquarters in Manila, Philippines. . /E 110443 Eight of the 12 are elected from within Asia and the Pacific and four others are elected from outside the region. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. << Each Board is responsible for the general operations of their respective organization. Global data and statistics, research and publications, and topics in poverty and development, The World Banks digital platform for live-streaming, Environmental and Social Policies for Projects, International Development Association (IDA), International Bank for Reconstruction and Development (IBRD), Multilateral Investment Guarantee Agency (MIGA), World Bank Appoints Dr. Sabine Bernab as Director-General, Evaluation, Selection of the President of the World Bank Group, The World Bank Accountability Mechanism Resolution, IFC/MIGA Independent Accountability Mechanism (CAO) Policy - English and Additional Languages, The World Bank Inspection Panel Resolution, IBRD/IFC/IDA Executive Directors & Alternates (pdf), Code of Conduct for Board Officials (pdf). 20 April 2023 . Under the IBRD Articles of Agreement, the Executive Directors are responsible for the conduct of the general operations of the Bank. /SA false 35 0 obj Before being elected as the Bank's first President, he served as Secretary-General of the Multilateral Interim Secretariat tasked with establishing the Bank. These are some stories of inspiration from World Bank projects in India. To learn more about cookies, click here. The Annual Meetings are usually held for two consecutive years at the WBG and IMF headquarters in Washington, D.C. and every third year in another member country. The Polish-Swiss Constituency consists of. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT 1 . The Office also comprises a senior executive assistant and program assistants who provide administrative support. They discussed Japan- WB partnership digital issues, including digital development, cybersecurity and Total public debt stands at an alarming 50-year high in low- and middle-income economies, the equivalent of more than 200 percent of government revenues. /MediaBox [ 0 0 612 792 ] endstream endobj 5551 0 obj <>stream Presentation of the East Asia and Pacific (EAP) Economic Update Report by EAP Chief Economist Aaditya Mattoo and Senior Economist Ergys Islamaj. 0000022918 00000 n << >> It displays the current and two following moths of the Executive Directors' work program in a monthly format. The Executive Directors approved on May 25, 2022 a credit in the amount of SDR 79.6 million (US$110 million equivalent) and a grant in the amount of SDR 79.6 million (US$110 0000000017 00000 n Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. The six largest shareholders of the Bank - the United States, Japan, China, Germany, France and the UK, as well as Russia and Saudi Arabia - each appoint an executive director to the Board. /CapHeight 1000 **Download statistics measured since January 1st, 2014. << 0 525 553 461 553 526 318 0 558 229 0 498 229 840 558 543 553 0 360 446 334 /OP false Vice President, Operations Policy and Country Services. %PDF-1.4 0000071268 00000 n They exercise powers delegated by the Boards of Governors. Lakshmi Shyam-Sunder. The boards of directors consist of the World Bank Group president and 25 executive directors. trailer MIGA has its own separate Board of Directors, consisting of 25 members. Read more on:Executive Directors. This site uses cookies to optimize functionality and give you the best possible experience. >> 34 0 obj /XHeight 1000 << endstream endobj 5546 0 obj <>stream Jointly with the other 24 Executive Directors, they oversee and govern the business of the World Bank Group. The Boards of Directors consist of the World Bank Group President and 25 Executive Directors acting as a unit to consider and decide on loans, credits and grants; private sector support, political risk guarantees, Technology is bringing opportunity, paving the way to create new jobs, increase productivity, and improve public service delivery. The gigantic austerity drive underway . We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. The World bank has 25 executive directors who each represent a country, or constituency of countries, and contribute to the bank's governance. The World Bank operates under the leadership and direction of the president and organizational units responsible for regions, sectors, and general management. Thankful to the Government of #Japan , and the Japan International Cooperation Agency /Metadata 29 0 R 0000023226 00000 n /T 159997 The Office also has a fiduciary responsibility, to act in the best interests of the organization as a whole. /Length 19949 _vqLkqH)KAjj%5''vF>{z,ux[aW8Q0qz)~hi6pIM.rijEf D/A} FqU-%&Z7=a'rSI[C=uM^#jG9;2=OET;{G5]o6ipx5kW]1&D/K0mJE+aZjs>'8oQ. ,n?#4J+ p With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. A roster of the leadership across the organization, organized by institution. His five-year term began on April 9. 0ELD-H6*MEPj#vjxH. It provides advice on the procedures for subscribing to additional shares as authorized under resolutions approved by theBoards of Governors, including required documentation and capital subscriptions payments. 0000108280 00000 n 0000000829 00000 n /Font << /TT2 35 0 R /TT4 38 0 R /TT6 41 0 R /SH1 44 0 R >> /Resources 33 0 R The organizations that make up the World Bank Group are owned by the governments of member nations, which have the ultimate decision-making power within the organizations on all matters, including policy issues. Search for experts by topic, role, language spoken, and more. Subscribe. /ProcSet [ /PDF /Text ] endstream endobj 5549 0 obj <>stream 31 0 obj These trust funds include: To view former Hightlights, go to "Events and Travel" tab. /Type /Font World Bank & IMF in the news. Member countries of the World Bank Group appoint or elect Executive Directors to the Boards of the International Bank for Reconstruction and Development (IBRD), the International Development Agency (IDA), the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA). They also hold discussions on operations evaluations, development trends, and strategic directions for the Bank. The World Bank Group works in every major area of development. In a Project Syndicate op-ed, three World Bank Executive Directors (Wempi Saputra, Erivaldo Alfredo Gomes, and Abdoul Salam Bello), representing 41 client countries across Asia, Africa, and Latin America, called for an IBRD capital increase alongside an IDA replenishment and greater mobilization of private finance. /Linearized 1 Number of Executive Directors. The 2022 IMF/World Bank Group Spring Meetings will run from April 18 24 and will feature events on digital development, climate, trade and subsidies, fragility, and human capital. Global data and statistics, research and publications, and topics in poverty and development, World Bank Support for Country Access to COVID-19 Vaccines, Environmental and Social Policies for Projects. Conditionality Analysis. The President of the World Bank Group serves as Chairman of the Board. endobj The rules adopted for each regular election are approved in advance of the election by a majority vote of the Boards of Governors. Sheila Redzepi. Gifts are tax deductible to the full extent allowable under the law. Dominique Favre is a Swiss Ambassador, currently serving as Executive Director at the World Bank Group in Washington D.C. bH#!}k}*E{$_Z{8Q3"B5/,9eGgGop_C*tDmVX6s7!=DcKK~\Z1h1-.(3-n2s7"D~ =3TnD7t^KlL4Y3KD{/C{}? Global data and statistics, research and publications, and topics in poverty and development, The World Banks digital platform for live-streaming, Environmental and Social Policies for Projects, International Development Association (IDA), Data - Sub-Saharan Africa (developing only). Global data and statistics, research and publications, and topics in poverty and development. INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL FINANCE CORPORATION INTERNATIONAL DEVELOPMENT ASSOCIATION EXECUTIVE DIRECTORS AND ALTERNATES Executive Director Alternate Louise LEVONIAN Donna HARRIS Antigua and Barbuda + Guyana (Canada) (Guyana) Bahamas, The Ireland BarbadosJamaica + Belize St. Kitts and Nevis The Executive Director is supported by the Alternate Executive Director,Senior Advisors and Advisors, who review and provide advice on policies, strategies and projects presented for consideration and approval by the Executive Board. /Ascent 1000 World Bank, in full World Bank Group, international organization affiliated with the United Nations (UN) and designed to finance projects that enhance the economic development of member states. /S 146 Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. startxref Member countries of the World Bank Group appoint or elect Executive Directors to the Boards of the International Bank for Reconstruction and Development (IBRD), International Development Agency (IDA), International Finance Corporation (IFC) and Multilateral Investment Guarantee Agency (MIGA). endobj << The President is the presiding officer, and ordinarily has no vote except a deciding vote in case of an equally divided Board. The Executive Director is Vice Chair of the Human Resources Committee (HRC)(pdf) and a member of the Committee on Governance and Executive Directors' Governance Matters (COGAM)(pdf). Headquarters >> These member countries, or shareholders, are represented by aBoard of Governors, who are the ultimate policymakers at the World Bank. stream Global data and statistics, research and publications, and topics in poverty and development, The World Banks digital platform for live-streaming, Environmental and Social Policies for Projects, International Development Association (IDA). xref With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. Executive Directors (or Alternates) fulfill a dual function, as officials of the Bank and as representatives of the member country or countries that appointed or elected them. The first is to represent the interests of these Constituency members at the Executive Board of the WBG and to liaise with the respective Governors on issues relevant to the entire constituency or to a particular member of the constituency. With regard to reform efforts . The past 70 years have seen major changes in the world economy. 0000002283 00000 n Vice President, Development Finance. /FontFile2 37 0 R P4 2!R0&'fh p.u\Z:$hL8!QrbfnXaX^|:z5 Ij3. Shares are allocated differently in each organization, resulting in differentvoting powers. *Yiuorq!+gy49FKr:+.,F*+M/W[}}__W6g]};' -6;*,P%NjH,D2h JSUy`i'=_c)&?R-jq,;< 4$zlb McjX8cJ>=el#[=r@|m: elY5[Vm5|Py*?>ylzd?1)?2EORV2X\k{vu#=C*VZQ]Z+SgmtSbX. /L 160724 {9}ip!D/i+{ H8-Uk61uuUOR.Q&Sf s+ZX.dc7Fmf[Y!_.:#*ZOi"u/AKD?v^g4Az#kRLYz^-5NQSS[NYWS~X0m:QVCVmV. c5 \EuM The Ethics Committee has the authority to advise Board Officials or the President on matters related to conflict of interests, annual disclosures, or other ethical aspects of conduct in respect of Board Officials or the President, and to investigate alleged misconduct by Board Officials or the President. endstream endobj 5547 0 obj <>stream We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. /Size 48 >> The remaining five new executive directors - Richard Murray of Australia, Peter Gakunu of Kenya, Ge Huayong of China, Javier Silva-Rueta of Peru and Laurean Rutayisire of Rwanda - have all moved into their positions after serving as alternates for their constituencies. The World Bank Group is a consortium of five different international organisations: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA) and the International Centre for Settlement of Long-term economic growth is a key driver of poverty reduction and higher living standards. THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Madagascar - Credit and Grant - National Water Project 1. 0000022332 00000 n The executive directors as individuals cannot exercise any power or commit or represent the Bank unless the boards specifically authorized them to do so. The World Bank Group works in every major area of development. This diverse constituency is currently represented by Ms. Katharine Rechico, who is supported by Canadian, Irish & Caribbean Senior Advisors and Advisors. h, %PDF-1.7 % The position is usually held by the countrys minister of finance. The current boards of the World Bank Group consist of 25 executive directors. f_}$'eq-54h0x*kj[.HPYswesHcnM+v/i?IF\s")s9 I(0?w,\Z Phenomenal World. WASHINGTON, April 28, 2023The World Bank's Board of Executive Directors today approved a US$345 million loan that supports China's global public goods agenda by promoting the greening of agriculture and rural development in Hubei and Hunan provinces in central China.The program will reduce greenhouse gas (GHG) emissions from crop and livestock farming, increase carbon sequestration in . 0000001169 00000 n /Descent -206 /SM 0.02 The Corporate Secretariat is responsible for coordinating the process of membership as well as assisting members to complete their subscriptions to their allocated shares under periodic capital increases in IBRD, IDA, IFC, and MIGA. The World Bank is like a cooperative, made up of 189member countries. /O 32 /FontWeight 400 We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face. The government of Zimbabwe will "shortly conduct deeper and direct bilateral engagements with the capitals Washington DC, London and Brussels," Finance Minister Mthuli Ncube said in a presentation to IMF and World Bank executive directors. The World Bank Group works in every major area of development. /Info 26 0 R endstream endobj 5548 0 obj <>stream Under theArticles of Agreementof IDA and IFC, Executive Directors and Alternates of the Bank serve ex officio as Executive Directors and Alternates of IDA and IFC, as long as the country that appoints them, or any one of the countries that have elected them, is a member of IFC and IDA. Executive Directors and Alternates of the World Bank and Their Voting Power | June 30, 2019 IBRD IDA Executive Director Alternate Casting votes of Total votes % of total Total votes % of total Appointed Elected Guenther Schoenleitner (Austria) Nathalie Marie-Louise J. Francken (Belgium) Austria, Belarusa, Belgium, Czech They also hold discussions on operations evaluations, development trends, and strategic directions for the Bank. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. The World Bank Group (WBG) is a family of five international organizations that make leveraged loans to developing countries.It is the largest and best-known development bank in the world and an observer at the United Nations Development Group. >> /Type /Page Other meetings such as Board Committee meetings are held at various other times whenever required. /ItalicAngle 0 Like many large organizations, we know we can and must do better as an institution to increase our diversity and inclusion to tackle discrimination, racism, injustices, exclusion, and inequality, within the World Bank Group and in the countries we serve. There are 25 Executive Directors and 25 Alternate Executive Directors representing the 189member countries. Over that time, the World Bank Groupthe worlds largest development institutionhas worked to help more than 100 developing countries and countries in transition adjust to these changes by offering loans and tailored knowledge and advice.
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