THE WORLD BANK GROUPHEADQUARTERS1818 H Street, NW Telephone: [1](202)473-1000
Washington, DC 20433 Facsimile: [1](202)477-6391
USA Telex: 248423 WORLDBANK
64145 WORLDBANK
Cable: INTBAFRAD
Internet: www.worldbank.org
President: ... James D. WOLFENSOHN
LANGUAGE: EnglishESTABLISHMENT AND FUNCTIONSThe World Bank Group comprises five organizations: 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 the Settlement of Investment Disputes (ICSID). International Bank for Reconstruction and Development (IBRD)Banque Internationale pour la Reconstruction et de Développement (BIRD)Banco Internacional de Reconstrucción y Fomento (BIRF) The IBRD, was founded in 1944 at the same Bretton Woods Conference which saw the creation of the International Monetary Fund (IMF). It is the World Bank Group's main lending organization. It lends to developing countries with relatively high per capita incomes. The money the IBRD lends is used to pay for development projects, such as building highways, schools, and hospitals, and for programs to help governments change the way they manage their economies. COMPOSITION183 member countries: Islamic State of Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, The Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of Congo, Republic of the Congo, Costa Rica, Côte d'Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Fiji, Finland, France, Gabon, The Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hungary, Iceland, India, Indonesia, Islamic Republic of Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Republic of Korea, Kuwait, Kyrgyz Republic, Lao People's Democratic Republic, Latvia, Lebanon, Lesotho, Liberia, Libya, Lithuania, Luxembourg, former Yugoslav Republic of Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Republic of the Marshall Islands, Mauritania, Mauritius, Mexico, Federated States of Micronesia, Moldova, Mongolia, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Rwanda, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Samoa, San Marino, São Tomé and Príncipe, Saudi Arabia, Senegal, Serbia and Montenegro, Seychelles, Sierra Leone, Singapore, Slovak Republic, Slovenia, Solomon Islands, Somalia, South Africa, Spain, Sri Lanka, Sudan, Suriname, Swaziland, Sweden, Switzerland, Syrian Arab Republic, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, República Bolivariana de Venezuela, Vietnam, Republic of Yemen, Zambia, Zimbabwe International Development Association (IDA)Association Internationale de Développement (AID)Asociación Internacional de Fomento (AIF) IDA was established in 1960 to provide assistance on concessional terms to the poorest developing countries - those that cannot afford to borrow from the IBRD. IDA loans, known as "credits," are provided mainly to countries with annual per capita incomes of about US$800 or less. COMPOSITION162 member countries: Islamic State of Afghanistan, Albania, Algeria, Angola, Argentina, Armenia, Australia, Austria, Azerbaijan, Bangladesh, Barbados, Belgium, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of Congo, Republic of the Congo, Costa Rica, Côte d'Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Ethiopia, Fiji, Finland, France, Gabon, The Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hungary, Iceland, India, Indonesia, Islamic Republic of Iran, Iraq, Ireland, Israel, Italy, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Republic of Korea, Kuwait, Kyrgyz Republic, Lao People's Democratic Republic, Latvia, Lebanon, Lesotho, Liberia, Libya, Luxembourg, former Yugoslav Republic of Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Republic of the Marshall Islands, Mauritania, Mauritius, Mexico, Federated States of Micronesia, Moldova, Mongolia, Morocco, Mozambique, Myanmar, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Russian Federation, Rwanda, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Samoa, São Tomé and Príncipe, Saudi Arabia, Senegal, Serbia and Montenegro, Sierra Leone, Slovak Republic, Slovenia, Solomon Islands, Somalia, South Africa, Spain, Sri Lanka, Sudan, Suriname, Swaziland, Sweden, Switzerland, Syrian Arab Republic, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Uganda, United Arab Emirates, United Kingdom, United States, Uzbekistan, Vanuatu, Vietnam, Republic of Yemen, Zambia, Zimbabwe
Principal Officers
James D. WOLFENSOHN ... President
ZHANG Shengman ... Managing Director
Jeffrey A. GOLDSTEIN ... Managing Director
Peter WOICKE ... Managing Director
Gary L. PERLIN ... Senior Vice President and
Chief Financial Officer
Nicholas H. STERN ... Senior Vice President Development
Economics and Chief Economist
James ADAMS ... Vice President, Operational Policy
and Country Services
Cesare CALARI ... Vice President and Network Head,
Financial Sector
Fayezul CHOUDHURY ... Vice President and Controller
David DE FERRANTI ... Vie President, Latin America and Caribbean
Cheikh Ibrahima FALL ... Vice President and Corporate Secretary
Ian JOHNSON ... Vice President and Network Head, Environmentally
and Socially Sustainable Development
Mats KARLSSON ... Vice President, External Affairs and
United Nations Affairs
Jemal-ud-din KASSUM ... Vice President, East Asia and Pacific
Motoo KUSAKABE ... Vice President, Resource Mobilization
and Cofinancing
Frannie LEAUTIER ... Vice President, World Bank Institute
Johannes F. LINN ... Vice President, Europe and Central Asia
Callisto E. MADAVO ... Vice President, Africa
Mohamed MUHSIN ... Vice President, Information Solutions Group
and Chief Information Officer
Gobind NANKANI ... Vice President and Network Head, Poverty
Reduction and Economic Management
Ms. Mieko NISHIMIZU ... Vice President, South Asia
Jean-François RISCHARD ... Vice President, External Affairs, Europe
Jozef RITZEN ... Vice President and Network Head,
Human Development
Ms. Joanne SALOP ... Vice President and Senior Adviser to MDS
Jean-Louis SARBIB ... Vice President, Middle East and North Africa
Ms. Nemat SHAFIK ... Vice President and Network Head, Infrastructure
and Private Sector Development
Ms. Katherine SIERRA ... Vice President, Human Resources
Anil SOOD ... Vice President, Strategy and Resource Management
Ko-Yung TUNG ... Vice President and General Counsel
Graeme WHEELER ... Vice-President and Treasurer
Robert PICCIOTTO ... Director General, Operations Evaluation
International Finance Corporation (IFC)Société Financière Internationale (SFI)Corporación Financiera Internacional (CFI) IFC was established in 1956 to help strengthen the private sector in developing countries. IFC lends directly to the private sector, while the IBRD and IDA lend to governments. IFC aids the private sector by providing long-term loans, equity investments, guarantees and "stand-by financing," risk management and "quasi-equity instruments," such as subordinated loans, preferred stock, and income notes. COMPOSITION175 member countries: Islamic State of Afghanistan, Albania, Algeria, Angola, Antigua and Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan, The Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of Congo, Republic of the Congo, Costa Rica, Côte d'Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Fiji, Finland, France, Gabon, The Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, Hungary, Iceland, India, Indonesia, Islamic Republic of Iran, Iraq, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, Republic of Korea, Kuwait, Kyrgyz Republic, Lao People's Democratic Republic, Latvia, Lebanon, Lesotho, Liberia, Libya, Lithuania, Luxembourg, former Yugoslav Republic of Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Republic of the Marshall Islands, Mauritania, Mauritius, Mexico, Federated States of Micronesia, Moldova, Mongolia, Morocco, Mozambique, Myanmar, Namibia, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russian Federation, Rwanda, St. Kitts and Nevis, St. Lucia, Samoa, Saudi Arabia, Senegal, Serbia and Montenegro, Seychelles, Sierra Leone, Singapore, Slovak Republic, Slovenia, Solomon Islands, Somalia, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Syrian Arab Republic, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, República Bolivariana de Venezuela, Vietnam, Republic of Yemen, Zambia, Zimbabwe
Principal Officers
James D. WOLFENSOHN ... President
Peter L. WOICKE ... Executive Vice President
Ms. Dorothy Hamachi BERRY ... Vice President, Human Resources
and Administration
Assaad J. JABRE ... Vice President, Operations
Ms. Farida KHAMBATA ... Vice President, Portfolio and Risk Management
Ms. Carol F. LEE ... Vice President and General Counsel
Cheikh Ibrahima FALL ... Vice President and Corporate Secretary
International Centre for Settlement of Investment Disputes (ICSID)Centre International Pour le Règlement des Différends Relatifs aux Investissements (CIRDI)Centro Internacional de Arreglo de Diferencias Relativas a Inversiones (CIADI) ICSID was founded in 1966 to promote increased flows of international investment by providing facilities for the conciliation and arbitration of disputes between governments and foreign investors. ICSID also provides advice, carries out research, and produces publications in the area of foreign investment law. COMPOSITION134 member countries: Islamic State of Afghanistan, Albania, Algeria, Argentina, Armenia, Australia, Austria, Azerbaijan, The Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Benin, Bolivia, Bosnia and Herzegovina, Botswana, Bulgaria, Burkina Faso, Burundi, Cameroon, Central African Republic, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Republic of Congo, Costa Rica, Côte d'Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Ecuador, Egypt, El Salvador, Estonia, Fiji, Finland, France, Gabon, The Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guinea, Guyana, Honduras, Hungary, Iceland, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Republic of Korea, Kuwait, Latvia, Lesotho, Liberia, Lithuania, Luxembourg, former Yugoslav Republic of Macedonia, Madagascar, Malawi, Malaysia, Mali, Mauritania, Mauritius, Federated States of Micronesia, Mongolia, Morocco, Mozambique, Nepal, Netherlands, New Zealand, Nicaragua, Niger, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Portugal, Romania, Rwanda, St. Kitts and Nevis, St. Lucia, Samoa, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Singapore, Slovak Republic, Slovenia, Solomon Islands, Somalia, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Tanzania, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Ukraine, Uganda, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, República Bolivariana de Venezuela, Zambia, Zimbabwe
Principal Officers
James D. WOLFENSOHN ... Chairman of the Administrative Council
Ko-Yung TUNG ... Secretary-General
Board of Executive Directors
Executive Director Alternate
ABDUL AZIZ Mohd, Yaacob Nguyen Doan HUNG
Girmai ABRAHAM Richard H. KAIJUKA
May Ismail ALJAZZAF Mohamed Kamel AMR
Yahya Abdullah M. ALYAHYA Abdulrahman ALMOFADHI
Ms. Carole BROOKINS Robert B. HOLLAND
Pierre DUQUESNE Emmanuel MOULIN
Yuzo HARADA Masanori YOSHIDA
Neil HYDEN Dong-Soo CHIN
Finn JØNCK Inkeri HIRVENSALO
Alexey G. KRASOV (Eff.7/1/02) Eugene MIAGKOV
Matthias MEYER Jerzy HYLEWSKI
Ms. Terrie O'LEARY Ms. Sharon WEBER
Franco PASSACANTANDO Ms. Maria Helena CORDEIRO
Moises PINEDA Jose H. MACHILLANDA
Jaime RUIZ Luis Antonio BALDUINO
Ahmed SADOUDI Inaamul HAQUE
Helmut SCHAFFER Eckardt BISKUP
Tom SCHOLAR Ms. Rosemary STEVENSON
Mario SOTO-PLATERO Roberto GARCIA-LOPEZ
B.P. SINGH Akbar Ali KHAN
Pieter STEK Ms. Tamara SOLYANYK
Bassary TOURE Paulo F. GOMES
ZHU Xian CHEN Huan
Multilateral Investment Guarantee Agency (MIGA)Agence Multilatérale de Garantie des Investissements (AMGI)Organismo Multilateral de Garantía de Inversiones (OMGI) MIGA was established in 1988 to help developing countries attract foreign investment. MIGA provides investors with investment guarantees against "non-commercial risk," such as expropriation and war. It also provides investment marketing services and legal advisory services to developing member countries. COMPOSITION155 member countries: Albania, Algeria, Angola, Argentina, Armenia, Australia, Austria, Azerbaijan, The Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon, Canada, Cape Verde, Central African Republic, Chile, China, Colombia, Democratic Republic of Congo, Republic of the Congo, Costa Rica, Côte d'Ivoire, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Fiji, Finland, France, The Gambia, Georgia, Germany, Ghana, Greece, Grenada, Guatemala, Guinea, Guyana, Haiti, Honduras, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Japan, Jordan, Kazakhstan, Kenya, Republic of Korea, Kuwait, Kyrgyz Republic, Lao People's Democratic Republic, Latvia, Lebanon, Lesotho, Libya, Lithuania, Luxembourg, former Yugoslav Republic of Macedonia, Madagascar, Malawi, Malaysia, Mali, Malta, Mauritania, Mauritius, Federated States of Micronesia, Moldova, Mongolia, Morocco, Mozambique, Namibia, Nepal, Netherlands, Nicaragua, Nigeria, Norway, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, St. Kitts and Nevis, St. Lucia, St. Vincent and the Grenadines, Samoa, Saudi Arabia, Senegal, Serbia and Montenegro, Seychelles, Sierra Leone, Singapore, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sudan, Swaziland, Sweden, Switzerland, Tanzania, Thailand, Togo, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, República Bolivariana de Venezuela, Vietnam, Republic of Yemen, Zambia, Zimbabwe
Principal Officers
James D. WOLFENSOHN ... President
Motomichi IKAWA ... Executive Vice President
Luis DODERO ... Vice President and General Counsel
Roger PRUNEAU ... Vice President, Underwriting
Angus SCRIMGEOUR ... Vice President, Finance
Cheikh Ibrahima FALL ... Corporate Secretary
Ms. Karin MILLET ... Director, Investment Marketing Services
Amedee S. PROUVOST ... Director/Chief Financial Officer, Finance
and Risk Management
Tony WAN ... Director, Office of Central Administration
Gerald T. WEST ... Director, MIGA Policy and Evaluations
Ms. Meg TAYLOR ... Compliance Advisor/Ombudsman
Board of Directors
Director Alternate
ABDUL AZIZ Mohd, Yaacob Nguyen Doan HUNG
Girmai ABRAHAM Richard H. KAIJUKA
May Ismail ALJAZZAF Mohamed Kamel AMR
Yahya Abdullah M. ALYAHYA Abdulrahman ALMOFADHI
Ms. Carole BROOKINS Robert B. HOLLAND
Pierre DUQUESNE Emmanuel MOULIN
Yuzo HARADA Atsushi INOUE
Neil HYDEN Dong-Soo CHIN
Finn JØNCK Inkeri HIRVENSALO
Alexey G. KRASOV (Eff.7/1/02) Eugene MIAGKOV
Matthias MEYER Jerzy HYLEWSKI
Ms. Terrie O'LEARY Ms. Sharon WEBER
Franco PASSACANTANDO Ms. Maria Helena CORDEIRO
Moises PINEDA Jose H. MACHILLANDA
Jaime RUIZ Luis Antonio BALDUINO
Ahmed SADOUDI Inaamul HAQUE
Helmut SCHAFFER Eckardt BISKUP
Tom SCHOLAR Ms. Rosemary STEVENSON
Mario SOTO-PLATERO Roberto GARCIA-LOPEZ
B.P. SINGH Akbar Ali KHAN
Pieter STEK Ms. Tamara SOLYANYK
Bassary TOURE Paulo F. GOMES
ZHU Xian CHEN Huan
STRUCTUREThe Board of Governors of the IBRD consists of a Governor and Alternate Governor appointed by each member country. Each Governor and Alternate of the IBRD serves ex officio as Governor and Alternate in IDA and IFC. The Council of Governors of MIGA consists of a Governor and Alternate appointed by each member country. ICSID is administered by an Administrative Council made up of one representative for each member country and chaired by the President of the IBRD, and by its Secretary General. All the powers of the IBRD, IDA and IFC are vested in their Boards of Governors, and in MIGA, in its Council of Governors. The Boards of Governor of the World Bank Group (including the MIGA Council of Governors and the ICSID Administrative Council) meet annually in joint sessions with the Board of Governors of the IMF. The Development Committee is known formally as the Joint Ministerial Committee of the Boards of Governors of the World Bank and the International Monetary Fund on the Transfer of Real Resources to Developing Countries. The Committee is a forum of ministers concerned with finance and development representing the world community at large. Its role is to provide advice and guidance; however, it also exercises monitoring and coordinating functions in the development field. With the exception of the powers specifically reserved to the Governors, the Governors have delegated all their powers to a Board of Executive Directors which is responsible for the day-to-day running of the IBRD. The Executive Directors of the IBRD also serve ex officio as Executive Directors of IDA and as members of the Board of Directors of IFC. The IBRD's Board consists of twenty-four Executive Directors and Alternates. The Board of Directors of MIGA consists of 24 Directors and Alternates. The President of the IBRD is Chairman of the Board of Directors and President of IDA, IFC, and MIGA. GENERAL PUBLICATIONThe Publications Index of the World Bank Group may be accessed via the Internet (address is www.worldbank.org). UPDATED: March 25, 2003
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