International Bank for Reconstruction and Development (IBRD) - Board of Governors Resolution - Rules for the 2024 Regular Election of Executive Directors

Jul 19, 2026

Resolution No. 703 of the International Bank for Reconstruction and Development’s Board of Governors approves the Rules for the 2024 Regular Election of Executive Directors. The document defines key terms, including Articles, Board, Chair, Governor, Secretary, and the election concept. It sets election timing before November 1, 2024, establishes how Schedule B provisions apply with specific substituted percentages and person counts, and outlines supervision, nomination procedures, and balloting and counting rules.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages5

Reading Time13 min

Rules for the 2024 Regular Election of Executive Directors

Definitions

Timing of Election

Basic Rules-Schedule B

Executive Directors to Be Elected

Supervision of the Election

Nominations

Balloting

Public Disclosure Authorized Public Disclosure Authorized INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT BOARD OF GOVERNORS Resolution No. 703 Rules for the 2024 Regular Election of Executive Directors RESOLVED: (a) THAT the attached Rules for the 2024 Regular Election of Executive Directors are hereby approved; and (b) THAT a Regular Election of Executive Directors shall take place in connection with the Annual Meeting of the Board of Governors in 2026. (Adopted on July 30, 2024) Rules for the 2024 Regular Election of Executive Directors DEFINITIONS 1. In these Rules, unless the context shall otherwise require, (a) “Articles” means the Articles of Agreement of the Bank. (b) “Board” means the Board of Governors ofthe Bank. (c) “Chair” means the Chair of the Board or a Vice Chair acting as Chair. (d) “Governor” includes the Alternate Governor and, for actions taken at any meeting, a temporary Alternate Governor, when acting for the Governor. (e) “Secretary” means the Corporate Secretary or any acting Corporate Secretary of the Bank. (f) “Election” means the 2024 Regular Election of Executive Directors. (g) “Eligible votes” means the total number of votes that can be cast in the election. 2. All actions taken under these Rules, including communications by the Secretary and the Chair and nominations and balloting by the Governors, maybe taken by rapid means of communication. TIMING OF ELECTION 3. The election shall be held by requesting nominations and conducting ballots so as to conclude a reasonable time in advance of November 1, 2024, when the term of office of the elected Executive Directors shall commence. BASIC RULES-SCHEDULE B 4. Subject to the adjustment set forth in the Rules, the provisions of Schedule B of the Articles shall apply to the conduct of the election, except that: (a) “two percent” shall be substituted for “fourteen percent” in Paragraphs 2 and 5 of Schedule B and “ten percent” shall be substituted for “fifteen percent” in Paragraphs 3, 4, and 5 of Schedule B thereof; and (b) “nineteen persons” shall be substituted for “seven persons” in Paragraphs 2, 3, and 6 of Schedule B, “eighteen persons” shall be substituted for “six persons” in Paragraph 6 of Schedule B, and “the nineteenth” shall be substituted for “the seventh” in Paragraph 6 of Schedule B thereof. EXECUTIVE DIRECTORS TO BE ELECTED 5. Nineteen Executive Directors shall be elected. SUPERVISION OF THE ELECTION 6. The Chair shall appoint such tellers and other assistants and take such other action asthe Chair deems necessary for the conduct of the election. NOMINATIONS 7. (a) The Secretary shall request nominations from Governors during a suitable period specified by the Secretary. (b) Each nomination shall be made on a nomination form furnished by the Secretary, signed by the Governor or Governors making the nomination and submitted to the Secretary. (c) Any person nominated by one or more Governors entitled to vote in the electionshall be eligible for election as Executive Director. (d) A Governor may nominate only one person. (e) If a nominee withdraws from the ballot after the closing date of the nomination period, but before the closing date of the ballot, the Secretary shall inform all Governors eligible to vote of such withdrawal and invite them to submit nominations of a candidate by rapid means of communication, during a suitable period specified by the Secretary. At the end of the prescribed period of time for this nomination, the Secretary shall compile a new list of candidates with all individuals who were nominated by at least one Governor in either nomination period and circulate that list by rapid means of communication to all Governors eligible to vote with an invitation to vote through similar channels before the end of the balloting period. BALLOTING 8. (a) Upon the closing of nominations, the Secretary shall send to all Governors entitled to vote in th

FAQs

What does Resolution No. 703 approve, and when will the regular election occur?

It approves the attached Rules for the 2024 Regular Election of Executive Directors. A regular election of Executive Directors shall take place in connection with the Annual Meeting of the Board of Governors in 2026.

What is the required election timing for the 2024 regular election?

The election must be concluded in a reasonable time in advance of November 1, 2024, when the term of office of elected Executive Directors begins.

How are nominations requested, submitted, and handled if a nominee withdraws?

The Secretary requests nominations during a suitable period and provides nomination forms signed by the nominating Governor(s). If a nominee withdraws after nomination closing but before the ballot closes, the Secretary notifies eligible Governors and invites them to submit nominations by rapid means during a suitable period, then circulates an updated candidate list.

Jul 19, 2026

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