/FontFile2 37 0 R Indian-American business executive Ajay Banga was Thursday nominated by US President Joe Biden to head the World Bank. Jin is the inaugural President and Chair of the Board of Directors. Furthermore, it is customary for the Directors of MIGA to be the same individuals as the Executive Directors of the Bank. 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. << TheCode of Conduct for Board Officials(pdf) that took effect on November 1, 2022, supersedes the Code of Conduct of the Bank and the Association, and the Boards of the Corporation and the Agency respectiively, on October 19, 2018, as amended on August 6, 2021. Click here for more information about the World Bank Board of Directors, including a calendar of their meetings. Environmental and Social Policies for Projects, International Development Association (IDA), The World Banks digital platform for live-streaming, IBRD/IFC/IDA Executive Directors & Alternates (pdf), Code of Conduct for Board Officials (pdf). A roster of the leadership across the organization, organized by institution. >> 1x 1.5x 1.8x. The Code of Conduct for Board Officials sets forth principles and ethical standards for the Executive Directors, the Presidents of each of the organizations, Executive Director Designates, Executive Director Post-Designates, Alternate Executive Directors, Alternate Executive Director Designates, Alternate Executive Director Post-Designates, Temporary Alternate Executive Directors, Senior Advisors, and Advisors to Executive Directors (collectively, Board Officials) in connection with, or having a bearing upon, their status and responsibilities in the organizations of the World Bank Group. Development Projects Projects By Country By Sector By Theme Country Engagement 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. 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. Minister of Internal Affairs & Communications Takeaki Matsumoto visited WB and met with President Malpass. Jointly with the other 24 Executive Directors, they oversee and govern the business of the World Bank Group. startxref Under the IDA Articles of Agreement and the IFC 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. 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. Vice President and World Bank Group Chief Risk Officer. 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. You have clicked on a link to a page that is not part of the beta version of the new worldbank.org. << /E 110443 To learn more about cookies, click here. /FontName /KJJAHM+Tahoma 20 April 2023 . /Size 48 /Encoding /WinAnsiEncoding This diverse constituency is currently represented by Ms. Katharine Rechico, who is supported by Canadian, Irish & Caribbean Senior Advisors and Advisors. endstream endobj 5548 0 obj <>stream The Executive Director represents Japan in the Executive Boards of the World Bank Group. Number of Executive Directors. endstream endobj 5549 0 obj <>stream /op false The boards of directors consist of the World Bank Group president and 25 executive directors. 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. Under theIBRD Articles of Agreement, each of the five members having the largest number of shares appoints an Executive Director, and the remaining members elect the other Executive Directors. 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. 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. Read the World Banks plan to support African countries to strengthen the quantity, efficiency and impact of investments in people. /Resources 33 0 R There are 25 Executive Directors and 25 Alternate Executive Directors representing the 189member countries. The Boards of Governors consist of one Governor and one Alternate Governor appointed by each member country. The World Bank Group works in every major area of development. /FirstChar 32 Regular elections of Executive Directors are held every two years at the time of the Annual Meetings. /Root 31 0 R Other meetings such as Board Committee meetings are held at various other times whenever required. 37 0 obj The Japanese additional contribution to the Global Concessional Financing Columbia University JJWBGSP Scholars Visit Executive Office of Japan, Raising the bar on debt data transparency. The executive directors as individuals cannot exercise any power or commit or represent the Bank unless the boards specifically authorized them to do so. 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 %PDF-1.7 % V pk2 efW``0)@ X) While there are four Boards, Executive Directors serving on these Boards are usually the same. /FontStretch /Normal The World Bank Group works in every major area of development. 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 World Bank Group works in every major area of development. The Boards of Directors (the Board) is made up of representatives of the Banks member countries that appoint them or elected them. Collectively, they represent the constituency countries in meetings at the World Bank Group, as well as in direct consultations and negotiations with other Executive Directors offices, to gain support for the World Bank's twin goals of eliminating extreme poverty by 2030 and boosting shared prosperity. Sheila Redzepi. 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. /S 146 -A)\^ouu'pac3vA+;`W\P!0d(4?hs lt2Naw$2$$7+ jL=A{tD'H80pG['/GL!!! 8d.Hd.Hd.Hl. @~,>@;OO@V}y*VW_dbNlNa\69QQmwr7Ruho/D%FFqv#3iTbdUf6:LUbf)12HFS6[sJ,MRbFX0bU#`%f9FEA1 *lelBlyWbF~NE#if uJ,;X4#. Long-term economic growth is a key driver of poverty reduction and higher living standards. /XHeight 1000 endobj The World Bank Group works in every major area of development. endstream endobj 5546 0 obj <>stream 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. endstream endobj 5551 0 obj <>stream The World Bank Group Boards of Directors refers to four separate Boards of Directors, namely the Board 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). His five-year term began on April 9. This site uses cookies to optimize functionality and give you the best possible experience. >> 0000022332 00000 n /Filter /FlateDecode hYmo7+HzkPa@ij8H#CGD>QGy%C 0_/&B QB.jEHo2y0!b 0D |0 G_kgqYis;qJDj,mD[Su-iR0 j& >> We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. 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. endobj WASHINGTON, April 28, 2023The World Bank's Board of Executive Directors today approved a US$345 million loan that supports China's global public goods agenda by promoting the greening of agriculture and rural development in Hubei and Hunan provinces in central China.The program will reduce greenhouse gas (GHG) emissions from crop and livestock farming, increase carbon sequestration in . This site uses cookies to optimize functionality and give you the best possible experience. /L 160724 This paper examines the role of social protection (SP) in Small Island Developing States (SIDS), given their particular structural, human resource and capacity constraints. The current boards of the World Bank Group consist of 25 executive directors. The World bank has 25 executive directors who each represent a country, or constituency of countries, and contribute to the bank's governance. 0000000829 00000 n Phenomenal World. *Yiuorq!+gy49FKr:+.,F*+M/W[}}__W6g]};' -6;*,P%NjH,D2h JSUy`i'=_c)&?R-jq,;< 4$zlb McjX8cJ>=el#[=r@|m: elY5[Vm5|Py*?>ylzd?1)?2EORV2X\k{vu#=C*VZQ]Z+SgmtSbX. Boards of Directors World Bank Apr 11, 2019 World Development Report 2019 Mission, Strategic Plan, Program Areas, Services, Tools, Board of Directors, Financial Statements, Annual Reports, Budget, International Development Association (IDA). ,9U2[`l.Y%m}E]ii0Bx90s| P~~"/(d=*:V7u7Ij 48dF >> /BaseFont /KJJAHM+Tahoma Find out more about how you can participate. >> 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. In practice, the same individuals are chosen to serve on the IBRD Board of Executive Directors and the MIGA Board. 0000110199 00000 n How can we manage the growing risks of floods and droughts on a warming planet? 0000001573 00000 n The Code of Conduct provides that, as these officials are entrusted with responsibilities as prescribed in the Articles of Agreement, By-Laws, and related documents of the organizations, their personal and professional conduct must comply with the standards and procedures set forth in the Code of Conduct. h, The Boards of Governors consists of one Governor and one Alternate Governor appointed by each member country. 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. 0 0 0 589 0 0 0 0 667 0 373 0 0 0 0 0 0 0 0 0 0 584 0 0 902 0 0 0 0 0 0 0 0 Pleased to meet with Minister Shunichi Suzuki of @MOF_Japan. 0000108280 00000 n World Bank & IMF in the news. Search for experts by topic, role, language spoken, and more. stream 0000002283 00000 n endobj *h&hj\5X;4z]A7k(7YO14cgsJ7ir\r:[,o'yhWAW e On July 28, 2020, he was elected to serve a second term of five years, beginning on Jan. 16, 2021. The Board of Directors performs its duties full time at the ADB headquarters in Manila, Philippines. 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). Other countries are grouped into constituencies, each represented by an executive director. The Office has a dual responsibility. Appointment of executive directors There are currently 24 EDs on the board, one each for the five largest shareholders at the Bank- US, Japan, Germany, France and UK (see box). Lakshmi Shyam-Sunder. /Ascent 1000 They also hold discussions on operations evaluations, development trends, and strategic directions for the Bank. However, Over the last two decades, at least 1.65 billion people have been affected by floods and 1.43 billion by droughts. 0000001478 00000 n 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. 0 525 553 461 553 526 318 0 558 229 0 498 229 840 558 543 553 0 360 446 334 In his speech at the Warsaw School of Economics, titled Addressing Challenges to Growth, Security, and Stability, World Bank Group President David Malpass discussed how conflict, COVID-19, and climate change have created unprecedented challenges for developing countries, hurting the poorest and most vulnerable people and communities. 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. Will you take two minutes to complete a brief survey that will help us to improve our website? /StemV 92 Under the IBRD Articles of Agreement, each of the five members having the largest number of shares appoints an Executive Director, and the remaining members elect the other Executive Directors. This site uses cookies to optimize functionality and give you the best possible experience. C[YyzmW)dRJ{y }.KT^B!Z6'r=Y o 7{ZZM[\~kV:4m(` 2 19 April 2023 . Canada (English)/Canada (Franais) |Caribbean |Ireland|Jamaica|Latin America and the Caribbean|Small States, History of the Membership of the Current Constituency of EDS07, Some key takeaways from the 2020 Virtual Small States Forum held on October 8, 2020. The World Bank Group Boards of Directors refers to four separate Boards of Directors, namely the Board 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). 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). /Widths [ 313 0 0 0 0 0 0 0 0 0 0 0 0 0 303 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 << 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. Edward Mountfield. << 35 0 obj INTERNATIONAL CENTRE FOR SETTLEMENT OF INVESTMENT DISPUTES, 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), Multilateral Investment Guarantee Agency (pdf), Senior Managing Director, Development Policy and Partnerships, Managing Director and World Bank Group Chief Financial Officer, Managing Director and World Bank Group Chief Administrative Officer, Senior Vice President and World Bank Group Chief Economist, Senior Vice President and WBG General Counsel (LEG), Acting Vice President, Budget, Performance Review, and Strategic Planning, Acting Vice President, Ethics and Internal Justice Services (EIJ VPU), Vice President, Eastern and Southern Africa, Vice President, Western and Central Africa, Vice President, Latin America and Caribbean, Vice President, Middle East and North Africa, Acting World Bank Group Chief Information Officer and Vice President, Information & Technology Solutions, Vice President, Equitable Growth, Finance, and Institutions, Acting Director General, Independent Evaluation Group, Vice President for Finance and World Bank Group Controller, Vice President, World Bank Group People and Culture, Vice President and Auditor-General, Internal Audit, Vice President and Treasurer, World Bank andPension Finance Administrator, World Bank Group, Vice President, World Bank Group External and Corporate Relations, Vice President, Operations Policy and Country Services, Vice President and World Bank Group Chief Risk Officer, Secretary, World Bank Accountability Mechanism, Chief of Staff to the World Bank Group President, Vice President and Treasurer,Treasury & Mobilization, Vice President, Economics and Private Sector Development, Regional Vice President, Middle East, Central Asia, Trkiye, Afghanistan, and Pakistan, Regional Vice President for Asia and Pacific, Regional Vice President for Europe and Latin America and the Caribbean, Vice President and Chief Risk, Legal and Administrative Officer, Director and General Counsel, Legal Affairs and Claims, Director for Climate, Energy, Extractives, Financial and Capital Markets Operations, Director for Infrastructure, Manufacturing, Agribusiness, Services (MAS) and Trade Operations, Vice President, Compliance Advisor/Ombudsman. endstream endobj 5545 0 obj <>stream This number is expected to increase. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. IFC Supports Japanese Firm to Boost Local Production of Generic Drugs in Asia, East Asia and Pacific Launch Event: Report Presentation, , Code of Conduct for Board Officials (pdf). MIGA has its own separate Board of Directors, consisting of 25 members. P4 2!R0&'fh p.u\Z:$hL8!QrbfnXaX^|:z5 Ij3. If confirmed by the World Bank board of directors, Banga, 63, will be the first Indian-American to head either of the two top international financial institutions: the International Monetary Fund and the World Bank. Presently, IBRD Board consists of 25 Executive Directors. /LastChar 122 The gigantic austerity drive underway . 0000108174 00000 n 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; Vice President, Development Finance. We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. The World Bank Group works in every major area of development. The Executive Directors operate in continuous session and meet in accordance with Bank's requirements and needs. /ProcSet [ /PDF /Text ] 31 0 obj Regular elections of Executive Directors are held every two years at the time of theAnnual Meetings. Four Joint Japan/World Bank Graduate Scholarship Program (JJWBGSP) recipients from Columbia University School of International and Public Affairs visited Mr. Takahiro Tsuda, Alternate Executive Director for Japan. The organizations that make up the World Bank Group are owned by the governments of member nations. Akihiko Nishio. /Type /Catalog We face big challenges to help the worlds poorest people and ensure that everyone sees benefits from economic growth. /FontDescriptor 36 0 R Similarly to the IMF, member countries are allocated votes at the . << Japan became one of the largest shareholders. Headquarters 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. 0000000017 00000 n 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. While there are four Boards, Executive Directors serving on these Boards are usually the same. %%EOF Presently, IBRD Board consists of 25 Executive Directors. The Annual Meetings bring together central bankers, ministers of finance and development, private sector executives, civil society, media and academics to discuss issues of global concern, including the world economic outlook, global financial stability, poverty eradication, inclusive economic growth and job creation, climate change, and others. The rules adopted for each regular election are approved in advance of the election by a majority vote of the Boards of Governors. /Type /Page 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. They make decisions on all matters, including policy, financial or membership issues. 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. 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. 47 0 obj 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 0000071268 00000 n 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. - World Bank As such, the Office supports dialogue between the WBG and our constituency countries and engages in consultations with other Executive Directors and Management to support efforts to achieve the twin goals of reducing extreme poverty to 3 percent by 2030 and promoting income growth of the bottom 40 percent in a sustainable manner. 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. /Subtype /TrueType Bank Information Center is a 501(c)(3) organization. The voting power of each Member country is based on the number of shares it holds. bH#!}k}*E{$_Z{8Q3"B5/,9eGgGop_C*tDmVX6s7!=DcKK~\Z1h1-.(3-n2s7"D~ =3TnD7t^KlL4Y3KD{/C{}? /Type /FontDescriptor /H [ 924 245 ] The World Bank operates day-to-day under the leadership and direction of the president, management and senior staff, and the vice presidents in charge of Global Practices, Cross-Cutting Solutions Areas, regions, and functions. >> endobj /Metadata 29 0 R Furthermore, Senior Advisors and Advisors assist the Executive Directors in their work, who can, along with the Alternates to Executive Directors, attend most Board meetings in an advisory capacity, without voting rights. The Executive Directors are responsible for conducting the day-to-day business of the World Bank. h,A In practice, the same individuals are chosen to serve on the IBRD Board of Executive Directors and the MIGA Board. The Executive Directors are responsible for conducting the day-to-day business of the World Bank. h24T0Pw/+Q04w,*.Q050 J$y&`^HeAiINf^j@ j The President of the World Bank Group serves as Chairman of the Board. 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 Shares are allocated differently in each organization, resulting in differentvoting powers. /Length 19949 36 0 obj xref endobj 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, Each autumn, the Boards of Governors of the World Bank Group and International Monetary Fund hold annual meetings to discuss a range of issues related to poverty reduction, international development and finance.

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