The Executive Directors have approved a transition from the Sanctions Committee process to the establishment of a Sanctions Board with strong external representation.
Implementation of this change and related reforms is in progress. In the interim, the Sanctions Committee will continue to handle existing cases.
In that context, I am pleased to announce that Graeme Wheeler, acting Managing Director, will chair the Sanctions Committee. In addition, Fayez Choudhury, Vice President and Controller, Philippe le Houerou, acting Vice President and CIO, ISG, and Natalie Lichtenstein, Assistant General Counsel, have agreed to be members of the committee. Susan McAdams, Adviser, CFP, is appointed Secretary to the Sanctions Committee concurrently with her present position. Ms. McAdams is lawyer with extensive experience in finance and Bank (and especially IDA) policy, and prior to working for the Bank was a corporate transaction lawyer and prosecutor.