World Bank Governor
Secretary of State for International Development Justine Greening represents the United Kingdom on the World Bank Board of Governors, the Bank’s senior decision-making body. The governors, usually ministers of finance or development, meet twice a year. The governors have the power to admit and suspend members of the World Bank Group, increase or decrease the authorized capital stock, determine the distribution of the net income of the Bank, and decide on the World Bank Group’s overall strategic direction. George Osborne, member of Parliament and chancellor of the exchequer, serves as the United Kingdom’s alternate governor.
World Bank Executive Director
The governor delegates responsibility for overseeing the day-to-day business of the United Kingdom’s interests at the Bank to the executive director (ED) for the United Kingdom. The ED is the governor’s representative on the 25-member World Bank Board of Executive Directors. EDs reside in Washington and normally meet twice a week to decide on borrowing and financial questions, projects, and policies that impact World Bank Group general operations. Gwen Hines is the current ED for the United Kingdom.
Shares and Voting Power
The World Bank Group has a weighted system of voting. All members of the Bank receive 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% of the sum of basic votes and share votes for all members). The voting power distribution differs from agency to agency within the World Bank Group.
The United Kingdom holds 4.39% of shares in the International Bank for Reconstruction and Development, with 4.17% of the voting power. It holds 5.79% of the voting power in the International Development Association, the World Bank’s fund for the poorest countries. It has 5.04% of the shares and 4.79% of the voting power in the International Finance Corporation, the Bank’s private sector arm. And it has 4.84% of the shares and 4.02% of the voting power in the Multilateral Investment Guarantee Agency.
For the latest voting status, please visit the Voting Powers page.
For information on United Kingdom’s aid flows as a donor, please visit the AidFlows UK page (PDF).