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Category 2. Governing Bodies
Section 2.A. Board of Governors

2.A. Board of Governors

As the institution’s highest decision-making body, all powers of the institution are vested in the Board of Governors. However, in terms of the day-to-day governance of the institution, the Governors have delegated all but a select number of their powers to the Executive Directors/Board of Directors. Each member country appoints one Governor and an Alternate Governor. These Governors are government officials, such as Ministers of Finance, Ministers of Development or Governors of Central Banks. The Board of Governors usually meets once a year at the institution’s Annual General Meetings.

Recommended transparency standards: The activities of the Board of Governors should be a matter of public record and citizens should be able to determine how they are being represented by their Governor. In general, citizens should be able to anticipate what will be discussed by the Board of Governors, review policy setting documents prior to meetings and convey their views to their respective Governor. The public should be able to view the meetings of the Board of Governors and full transcripts should be disclosed, along with any written statements.

2.A.i. Organizational structure and procedures

Indicator The rules governing the composition and functioning of the Board of Governors.
Recommended Standard The organizational structure and procedures of the Board of Governors should be disclosed.

Asian Development Bank (ADB)
Disclosed
Disclosed
African Development Bank (AfDB)
Disclosed
European Bank for Reconstruction and Development (EBRD)
Disclosed
European Investment Bank (EIB)
Disclosed
Inter-American Development Bank (IDB)
Disclosed
Disclosed
International Finance Corporation (IFC)
Disclosed
Inter-American Investment Corporation (IIC)
Disclosed
Disclosed
International Monetary Fund (IMF)
Disclosed
Disclosed
Multilateral Investment Guarantee Agency (MIGA)
Disclosed
World Bank (WB)
Disclosed

2.A.ii. Meetings open to public

Indicator Indicates whether or not the public and press are allowed to view the meetings of the Board of Governors.
Recommended Standard The meetings of the Board of Governors should be open to the public.

Asian Development Bank (ADB)
Not open
African Development Bank (AfDB)
Not open
European Bank for Reconstruction and Development (EBRD)
Not open
European Investment Bank (EIB)
Not open
Inter-American Development Bank (IDB)
Not open
International Finance Corporation (IFC)
Not open
Inter-American Investment Corporation (IIC)
Not open
International Monetary Fund (IMF)
Not open
Multilateral Investment Guarantee Agency (MIGA)
Not open
World Bank (WB)
Open
Not open

2.A.iii. Transcripts of board meetings

Indicator A verbatim account of a meeting of the Board of Governors.
Recommended Standard Transcripts of the meetings of the Board of Governors should be disclosed.

Asian Development Bank (ADB)
Not disclosed
African Development Bank (AfDB)
Not disclosed
European Bank for Reconstruction and Development (EBRD)
Not disclosed
European Investment Bank (EIB)
Not disclosed
Inter-American Development Bank (IDB)
Not disclosed
International Finance Corporation (IFC)
Not disclosed
Inter-American Investment Corporation (IIC)
Not disclosed
International Monetary Fund (IMF)
Not disclosed
Multilateral Investment Guarantee Agency (MIGA)
Not disclosed
World Bank (WB)
Disclosed
Not disclosed

2.A.iv. Summaries of board meetings

Indicator A general account of a meeting of the Board of Governors, including an overview of key issues raised, opinions expressed and decisions made.
Recommended Standard When prepared, summaries of the meetings of the Board of Governors should be disclosed, including an overview of key issues raised, opinions expressed and decisions made.

Asian Development Bank (ADB)
Disclosed
African Development Bank (AfDB)
Not disclosed
European Bank for Reconstruction and Development (EBRD)
Not disclosed
Disclosed
European Investment Bank (EIB)
Not disclosed
Inter-American Development Bank (IDB)
Sometimes disclosed
Disclosed
International Finance Corporation (IFC)
Disclosed
Inter-American Investment Corporation (IIC)
Disclosed
International Monetary Fund (IMF)
Disclosed
Multilateral Investment Guarantee Agency (MIGA)
Not disclosed
World Bank (WB)
Disclosed

2.A.v. Minutes of board meetings

Indicator A record of official business conducted and formal decisions taken during a meeting of the Board of Governors..
Recommended Standard Minutes of the meetings of the Board of Governors should be disclosed.

Asian Development Bank (ADB)
Disclosed
Not disclosed
African Development Bank (AfDB)
Not disclosed
European Bank for Reconstruction and Development (EBRD)
Not disclosed
European Investment Bank (EIB)
Not disclosed
Inter-American Development Bank (IDB)
Not disclosed
International Finance Corporation (IFC)
Disclosed
Not disclosed
Inter-American Investment Corporation (IIC)
Not disclosed
International Monetary Fund (IMF)
Not disclosed
Multilateral Investment Guarantee Agency (MIGA)
Not disclosed
World Bank (WB)
Disclosed
Not disclosed

2.A.vi. Agenda

Indicator A list, outline or plan of things to be considered or done during a meeting of the Board of Governors.
Recommended Standard The agenda of a meeting of the Board of Governors should be disclosed when it is made available to member countries.

Asian Development Bank (ADB)
Disclosed
Disclosed
African Development Bank (AfDB)
Disclosed
European Bank for Reconstruction and Development (EBRD)
Disclosed
European Investment Bank (EIB)
Not disclosed
Inter-American Development Bank (IDB)
Disclosed
International Finance Corporation (IFC)
Disclosed
Inter-American Investment Corporation (IIC)
Not disclosed
International Monetary Fund (IMF)
Disclosed
Multilateral Investment Guarantee Agency (MIGA)
Disclosed
World Bank (WB)
Disclosed

2.A.vii. Prepared statements of individual board members

Indicator A written comment or declaration formally submitted by a Governor to be entered into the record of a meeting of the Board of Governors.
Recommended Standard Prepared statements of individual Governors should be disclosed.

Asian Development Bank (ADB)
Disclosed
African Development Bank (AfDB)
Disclosed
European Bank for Reconstruction and Development (EBRD)
Disclosed
European Investment Bank (EIB)
Not disclosed
Inter-American Development Bank (IDB)
Disclosed
International Finance Corporation (IFC)
Disclosed
Inter-American Investment Corporation (IIC)
Disclosed
International Monetary Fund (IMF)
Disclosed
Disclosed
Multilateral Investment Guarantee Agency (MIGA)
Not disclosed
World Bank (WB)
Disclosed

2.A.viii. Materials prepared for the board for use in decision-making

Indicator Documents - such as resolutions, background research and management position papers - used by the Governors to inform or serve as a basis for decisions taken during a meeting of the Board of Governors.
Recommended Standard Materials prepared for the Board of Governors for use in decision-making should be disclosed when it is disseminated to the member countries.

Asian Development Bank (ADB)
Not disclosed
African Development Bank (AfDB)
Sometimes disclosed
Not disclosed
European Bank for Reconstruction and Development (EBRD)
Not disclosed
European Investment Bank (EIB)
Not disclosed
Inter-American Development Bank (IDB)
Not disclosed
International Finance Corporation (IFC)
Disclosed
Not disclosed
Inter-American Investment Corporation (IIC)
Not disclosed
International Monetary Fund (IMF)
Disclosed
Multilateral Investment Guarantee Agency (MIGA)
Not disclosed
World Bank (WB)
Disclosed
Not disclosed

2.A.ix. Directory of contact information for Governors

Indicator A listing of names, phone numbers, fax numbers, email and mailing addresses for the Institution’s Board of Governors and alternates.
Recommended Standard The public should be able to easily identify and contact their representative on the Board of Governors. A directory of contact information for Governors should be disclosed. This should include names, titles, physical and email addresses, fax numbers and telephone numbers.

Asian Development Bank (ADB)
Disclosed
Disclosed
African Development Bank (AfDB)
Disclosed
European Bank for Reconstruction and Development (EBRD)
Disclosed
European Investment Bank (EIB)
Disclosed
Inter-American Development Bank (IDB)
Disclosed
International Finance Corporation (IFC)
Disclosed
Disclosed
Inter-American Investment Corporation (IIC)
Disclosed
International Monetary Fund (IMF)
Disclosed
Multilateral Investment Guarantee Agency (MIGA)
Disclosed
Disclosed
World Bank (WB)
Disclosed
Disclosed

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