The Governance Structures of the Bretton Woods Financial Institutions by Ahmed Naciri

Author:Ahmed Naciri
Language: eng
Format: epub
ISBN: 9783319979069
Publisher: Springer International Publishing

8.The President of the IaDB is elected by a majority of the votes of the members and by a majority of the votes of country members.

In any case, any significant action cannot be taken solely by IaDB borrowers alone, and the United States retains the upper hand on the IaDB’s decisions.

Governance Structure and Voting Within the African Development Bank (AfDB)

The AfDB is made up of three separate institutions, or lending windows: The African Development Bank, providing facilities at market terms; The African Development Fund (AfDF), providing concessional loans and grants to countries unable to borrow from the African Development Bank; and the Nigeria Trust Fund (NTF), providing concessional financing to low-income borrowing countries. It has two boards of governors: one board for the AfDB window and the other for the African Development Fund.

The AfDB is composed of 80 country members; of these, 54 are regional country members and the remaining 26 are non-regionals. However, for a non-regional country to become a member of the AfDB, it must first register as an African Development Fund (AfDF) member. The AfDB and the AfDF form together the AfDB group (AfDBG). The Executive Board of the AfDB is elected by the Governors and comprises 18 Executive Directors representing all AfDB member countries, 12 executive directors representing African country members and 6 representing non-African member countries. The Executive Board of the African Development Fund has 12 members, who also sit on the Board of the AfDB. It is composed of six Directors of the AfDB’s Board, selected by the non-regional member’s states, and half of the remaining Directors on the AfDB’s Board. Each appointed governor and alternate governor represents his country and exercises a voting right proportionate to the capital subscribed. Governors and Alternate Governors serve for 5-year terms, subject to revocation and renewal by the country members and are de facto governors and alternate governors of the African Development Fund.

The President of the AfDB is the Head Executive of the Bank, while also serving as Chair of its Board of Governors and the Executive Board, and five vice-presidents and all the staff of the bank operate under the authority of this position. The AfDB Board of Governors meets once a year, while the Executive Board meets on a weekly basis at the Bank headquarters in Abidjan to make decisions about projects and policy proposals of the bank and the fund. Each executive director is expected to express his or her opinion on all the proposals and, interestingly, a silence is considered approval. AfDB management and staff attend executive board meetings and are often invited to respond directly to the questions and concerns of Board members. Contributions of members to the AfDB and to the AfDF determine the number of shares that each member holds in the fund, and this number also determines the voting rights he holds on the Executive Board of the fund. The voting model of the AfDB has a number of special features (https://​www.​afdb.​org/​en/​):1.All member countries of the AfDB are represented

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