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The World Bank

The Office of the Executive Director represents in the Board of the World Bank Group the constituency of Armenia, Bosnia and Herzegovina, Bulgaria, Croatia, Cyprus, Georgia, Israel, Moldova, Montenegro, The Netherlands, North Macedonia, Romania, and Ukraine.

The Executive Director and his staff work jointly with other Board members when considering and deciding on IBRD loan and guarantee proposals, as well as IDA credit, grant, and guarantee proposals made by the President. They decide on policies that guide the Bank's general operations. The Office is also responsible for presenting to the Board of Governors, at the Annual Meetings, an audit of accounts, an administrative budget, and an annual report on the Bank's finances, operations, and policies.

The Executive Director is the Chair of the Ethics Committee and the Vice Chair of the Committee on Development Effectiveness. He is also a member of the Human Resources Committee. Additionally, the Executive Director is involved, together with his staff in other Board Committees, including Audit Committee), Budget Committee), Committee on Governance and Administrative Matters, as well as in informal sub-committees.

The Executive Director and his staff work together with other 188 member countries' representatives to harmonize their positions and reach a consensus on development issues.



Europe and Central Asia Economic Update

Europe and Central Asia Economic Update - War in the Region

The Russian Federation’s war with Ukraine has triggered a catastrophic humanitarian crisis and threatened the stability of geopolitical relations. Economic output in the Europe and Central Asia region is forecast to contract by more than 4.1% in 2022—the second major shock and regional recession in two years. 

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WBRER 21 cover horizontal

Western Balkans Regular Economic Report: Steering Through Crises

The war in Ukraine is sending shockwaves across the region, particularly through higher energy and food prices but also via disruption to trade and investment flows, putting the region’s recovery at risk.

The World Bank

The Sustainable Development Goals Report 2021

The current crisis is threatening decades of development gains, further delaying the urgent transition to greener, more inclusive economies, and throwing progress on the SDGs even further off track.

The World Bank

Global Economic Prospects - June 2022

Russia’s invasion of Ukraine and its effects on commodity markets, supply chains, inflation, and financial conditions have steepened the slowdown in global growth. One key risk to the outlook is the possibility of high global inflation accompanied by tepid growth, reminiscent of the stagflation of the 1970s.


Explore Our Constituency

IBRD Disbursement in EDS19 Constituency Countries