WASHINGTON, September 14, 2020—The following statement was released today by the World Bank:
“On September 8, the World Bank’s Board of Executive Directors approved a Resolution establishing the World Bank Accountability Mechanism (AM), and an updated Resolution for the World Bank Inspection Panel, as well as the Terms of Reference and Selection Procedures for the Secretary of the new AM. These documents reflect the March 5, 2020 and October 18, 2018 decisions of the Board and conclude a three-year Board review process aimed at enhancing the Bank’s accountability framework. The process received input from a broad range of external stakeholders, including client countries’ authorities and civil society, over this period.
The World Bank AM Resolution establishes the new World Bank Accountability Mechanism, which will house both the Panel and a Dispute Resolution Service (DRS). Further, it confirms that the Panel will continue to carry out its compliance functions independent of Management; spells out the appointment process and role of the AM Secretary; and establishes the purpose, structure, and staffing of the DRS; as well as various procedural matters including the scope and conduct of a voluntary DRS process available to requesters and governments.
The AM Secretary will be appointed by the Board of Executive Directors, and will be nominated by the President, after consultation with the Executive Directors. The Secretary will report to the Board of Executive Directors and is independent of World Bank Management. He/She will be appointed for a single term of five years. Inspection Panel Members will continue to report to the Board.
The updated Panel Resolution restates and consolidates the original Panel Resolution of 1993 and clarifications to it approved by the Board in 1996 and 1999 and reflects the most recent decisions of the Executive Directors.
Additional detail on the enhancements can be found here. The Board agreed the enhancements will be reviewed in three years to assess their effectiveness, efficiency and operational and development impact.”