The Russian Federation joined the World Bank Group on June 16, 1992. The Executive Director represents the Russian Federation in the Executive Boards of the World Bank Group (WBG).
The Executive Directors are responsible for the conduct of the general operations of the WBG and exercise all the powers delegated to them by the Boards of Governors under the Articles of Agreement.
The Executive Directors consider and decide on the proposals made by Management on International Bank for Reconstruction and Development (IBRD) loans and guarantees, International Development Association (IDA) credits and grants, International Finance Corporation (IFC) investments, Multilateral Investment Guarantee Agency (MIGA) guarantees, and policies that impact the WBG's general operations.
The Board of Executive Directors conducts the oversight function: both the Independent Evaluation Group, which provides an independent assessment of the results of the Bank’s work, and the Inspection Panel, whose primary objective is to address the concerns of people who may be affected by WBG projects, report directly to the Board. Board’s oversight function also includes the External Audit and Conflict Resolution System.
The Executive Director for the Russian Federation serves as a Vice Chair of the Budget Committee, and a member of the Ethics Committee. Additionally, the Executive Director for the Russian Federation and his staff are involved in other Board Committees, including the Audit Committe, Committee on Governance and Administrative Matters, the Committee on Development Effectiveness, the Human Resources Committee, and various informal sub-committees.