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The Office of the Executive Director EDS21 represents the governments of Albania, Greece, Italy, Malta, Portugal, San Marino, and Timor-Leste.

The mission of our Office is to 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 Group's twin goals of ending extreme poverty by 2030 and boosting globally shared prosperity.

We place a high priority on the adequate implementation of World Bank Group activities and seek to ensure that the highest standards of services and governance are fulfilled within the Bank’s decisions at the Board of Executive Directors, in particular, to its clients and the least developed member states. Our focus is also on facilitating the contacts between government officials, private sector, community associations, and academics in constituency countries and the Bank. EDS21 voting powers at the Board equals the sum of all the shares of its constituent countries.

The Executive Director, Mr. Patrizio Pagano, is Chair of the Budget Committee (BC) since 2016; and served as member of the Audit Committee (AC) and the Committee on Governance and Executive Directors’ Administrative Matters (COGAM) from  2014 to 2016.


OPPORTUNITIES FOR THE PRIVATE SECTOR:  Contains an illustration of relevant activities of the World Bank Group (WBG) for the private sector, in order to facilitate participation in Bank financed projects as well as to provide opportunities for private business presence in the market for tenders related to those projects. 


Alternate Executive Director

Paulo Pedroso

Alternate Executive Director: EDS21
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By Country

Meeting February 15, 2019
IMF/World Bank Constituency Meeting in Malta

Malta today hosted a meeting of the IMF/World Bank 'constituency' it belongs to. IMF/World Bank member states are organised into constituences, namely groups of countries sharing one or more common characteristics including geographical proximity.

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Event July 23, 2018
Albanian art exhibition at the World Bank Group

On July 23, 2018, at the initiative of Patrizio Pagano, Executive Director for Albania at the Board of Directors of the World Bank Group, opened an exhibition of contemporary Albanian art at the Bank premises in Washington DC.

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History of the Membership of the Current Constituency of EDS21
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    Membership Date: October 15, 1991
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    Membership Date: December 27, 1945
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    Membership Date: March 27, 1947
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    Membership Date: September 26, 1983
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    Membership Date: March 29, 1961
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    San Marino

    Membership Date: September 21, 2000
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    Timor Leste

    Membership Date: July 23, 2002


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The World Bank Group
Office of the Executive Director for Albania, Greece, Italy, Malta, Portugal, San Marino, and Timor Leste
1818 H Street, N.W. Mail Stop MC 13-1310
Washington, DC 20433 USA
Fax:+1 202-477-3735

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In Depth

Executive Directors  of The World Bank Group have a dual responsibility:

(i) as representatives of the Bank's member country or a country that appoints or elects them, and
(ii) as Bank officials who represent the interests and concerns of those countries.

The Executive Directors are responsible for the conduct of the general operations of the Bank and exercise all the powers delegated to them by the Boards of Governors under the Articles of Agreement. They review and decide on loan and credit proposals and decide on sound policies that guide the activities and strengthen the foundation of the World Bank Group.

The Executive Director and EDS21 Office represent the views and interests of our constituency countries at the Bank's Executive Board. We inform and advise our constituency countries on relevant issues. We implement our mission by:

(a) ensuring that the Bank hears the voice and understands the interests of our constituency in its policy development and operational decisions;
(b) advocating policies and implementation practices that improve the effectiveness of the Bank operations;
(c) encouraging the Bank to engage actively with our constituency members;
(d) assisting our constituency members to engage actively with the Bank with the view to increase understanding about Bank’s policies and activities that affect them;
(e) assisting coordination between development-assistance programs of the Bank and donors to developing member countries of our constituency; and
(f) facilitating contacts between government officials, private sector, community associations and academics in constituency countries and the Bank. 

Last Updated: May 31, 2015

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    Alessandro Cascino

    Senior Advisor to the Executive Director - Italy Ministry of Finance
    Responsibilities: IFC Policies and Governance, Audit and Budget Committees, Annual Meetings, MDGs, WBG operations in South Asia Countries, IFC's World Region Operations. Main ED's back-up as Liaison with Italian Government and Italian Embassies.Email: acascino@worldbank.org / Tel. +1 202 458 1794
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    Raffaela Giordano

    Senior Advisor the Executive Director - Central Bank of Italy
    Responsibilities: WBG operations in Latin American and the Caribbean Region, COGAM, and (IEG) Independent Evaluation Group, back-up to ED as Liaison with Banca d'Italia. Email: rgiordano@worldbank.org / Tel. +1 202 473 0759
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    Ludovica Soderini

    Senior Advisor to Executive Director
    Responsibilities: WBG Operations in Africa Region (Anglophone Countries), IDA Policies and Governance, Energy and Climate Change, GEF, Environmental Issues, Liaison with the Italian Ministry of Economy and Finance. Trust Funds. Email: lsoderini@worldbank.org
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    Barbara Gasperi

    Advisor to the Executive Director - Institute of External Commerce (ICE)
    Responsibilities: WBG operations in the MENA Region, Procurement, Safeguards Policies, Main Liaison to Italian Private Sector and Commercial institutions. Email: bgasperi@worldbank.org / Tel. +1 202 458 1171
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    Luigi Laraia

    Advisor the Executive Director
    Responsibilities: WBG operations in Sub-Saharan Africa Region, CODE, Safeguards, and Liaison with Civil Society Organizations and WBG engagement with (CSOs). Email: llaraia@worldbank.org / Tel. +1 202 473 0875
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    Greta Minxhozi

    Advisor to the Executive Director - Albania Ministry of Finance
    Responsibilities: WBG operations in the Europe and Central Asia Region, MIGA corporate issues, Human Resource Committee, Gender as a cross-cutting issue. Liaison with Albanian Government, Civil Society Organizations (CSOs), Private Sector and Albanian Embassy. Email: gminxhozi@worldbank.org / Tel. +1 202 458 2488
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    Christos Papoutsis

    Advisor to the Executive Director - Helenic Republic of Greece Ministry of Finance
    Responsibilities: WBG Operations in Fragile Violent Conflict States, MENA, Energy & Climate Change, Integrity and Sanctions, Anti-corruption Strategy. Liaison with the Greek Government, Civil Society Organizations (CSOs), the Private Sector and Greek Embassies. Email: cpapoutsis@worldbank.org / Tel. +1 202 458 1177
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    Mary New

    Senior Executive Assistant to the Executive Director
    Email: mnew@worldbank.org/ Tel. +1 202 473 6996
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    Tayana Charisse Oliveira de Souza

    Program Assistant
EDS21 Constituency Countries
EDS21_map Italy Albania Data Greece Data Italy Data Italy Portugal Data Timor-Leste Data Malta San Marino Data

Allocation of Votes by Organization

Member countries are allocated votes at the time of membership and subsequently for additional subscriptions to capital.  Votes are allocated differently in each organization.

IBRD: Each member receives votes consisting of share votes (one vote for each share of the Bank's capital stock held by the member) plus basic votes (calculated so that the sum of all basic votes is equal to 5.55 percent of the sum of basic votes and share votes for all members).

IFC: Each member receives votes consisting of share votes (one vote for each share of IFC's capital stock held by the member) plus basic votes (calculated so that the sum of all basic votes is equal to 5.55 percent of the sum of basic votes and share votes for all members).

IDA: Each member receives the votes it is allocated under IDA replenishments according to the rules established in each IDA replenishment resolution. Votes consist of subscription votes and membership votes.

MIGA: Each member receives votes consisting of share votes (one vote for each share of MIGA's capital stock held by the member) plus parity votes, calculated so that the aggregate number of votes of category 1 and category 2 members is the same. Members choose which category they want to join at the time of membership. Category 1 members were originally defined as developed countries and category 2 members as developing countries.

Voting Status by Executive Director:


Project Map
Use Mapping for Results tool to visualize the locations of World Bank-financed projects of the EDS21 constituency countries.
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    Does the World Bank Foster Business?

    April, 2017
    Working Paper by Raffaela Giordano and Patrizio Pagano. Study of the impact of World Bank development policy loans on the ease of doing business.
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    World Bank to Help Countries Deliver on Climate Commitments

    With the passing of a global agreement at COP21 in Paris, countries are stepping up their action on climate change to meet the ambition of the agreement. The World Bank Group is working with countries to help meet their Paris commitments and finalizing a Climate Change Action Plan.
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    Timor-Leste: First Section of Vital Road Works Completed

    Safer, faster and more reliable travel becoming a reality with the first stage of the upgraded Halilaran–Laulara road being completed.
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    Timor-Leste Road Project

    This project supports the government upgrade of the 110km road corridor between Dili and Ainaro which will help open new opportunities for many communities along the way.


  • WDR 2018 Data

    World Development Report 2018

    Learning to realize education's promise
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    Doing Business 2017

    Equal Opportunity for All
  • © Dasan Bobo/World Bank

    The World Bank Annual Report

    This report focuses on the work of the World Bank, the operations and outcomes it supports in the six regions, and the results of that work in helping to overcome poverty and create opportunities for people in developing countries.
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    Global Economic Prospects

    The Global Economy in Transition
    Developing countries face a series of tough challenges in 2015, including the looming prospect of higher borrowing costs in a new era of low prices for oil and other key commodities.
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    Visit of the Executive Director to Albania

    Meeting - September 17, 2018
    The Executive Director Patrizio Pagano visited Albania between September 17-21, 2018. He had a very good meeting with Prime Minister Edi Rama as well as with the Minister of Finance Ahmetaj on issues related to enhancing WBG’s contribution in Albania in maximizing financing to better serve the development priorities of the country.
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    Albanian Art Exhibition at the World Bank Group

    Event - July 23, 2018
    On July 23, 2018, at the initiative of Patrizio Pagano, Executive Director for Albania at the Board of Directors of the World Bank Group, opened an exhibition of contemporary Albanian art at the Bank premises in Washington DC.
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    Reception at the Albanian Embassy

    Event - July 16, 2018
    A reception took place in honor of the Albanian Minister for Europe and Foreign Affairs, Ditmir Bushati. Mr. Pagano praised the minister on the Government’s progress in European Integration Agenda and on his personal contribution and outreach efforts. Mr Pagano met also Congressman Elliot Engel, a strong supporter of Albania in US Congress.
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    Meeting with Albanian Minister of Infrastructure and Energy

    Meeting - June 27, 2018
    During his recent visit to DC on June 27, 2018, the Minister Damian Gjiknuri met with Mr. Pagano and discussed the progress in implementation of existing portfolio, upcoming Western Balkans Trade and Transport Facilitation, as well as options for WBG future support.
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    New Memorandum of Understanding

    Meeting - June 19, 2017
    The Memorandum was signed at the Bank of Italy to launch a partnership to strengthen the capacity of statistical institutes in low- and middle-income countries to conduct household surveys.