MULTILATERAL INVESTMENT GUARANTEE AGENCY COUNCIL OF GOVERNORS - Resolution No. 108 - 2020 Regular Election of Directors

Jul 19, 2026

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Resolution No. 108 of the Multilateral Investment Guarantee Agency Council of Governors sets procedures for the 2020 Regular Election of Directors. It establishes that the election will follow attached Rules, defines key terms, and specifies timelines to conclude before November 1, 2020. The resolution outlines election structure under Schedule B, governance supervision, nomination requests and withdrawal handling, ballot preparation, counting, validation, and announcement of elected persons.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages4

Reading Time10 min

AccessFree to download

Resolution No. 108

2020 Regular Election of Directors

Rules for the 2020 Regular Election of Directors

Definitions

Timing of Election

Basic Rules - Schedule B

Supervision of the Election

Nominations

Balloting

Public Disclosure Authorized Public Disclosure Authorized MULTILATERAL INVESTMENT GUARANTEE AGENCY COUNCIL OF GOVERNORS Resolution No. 108 2020 Regular Election of Directors RESOLVED: (a) THAT the 2020 Regular Election of Directors shall take place in accordance with the attached Rules; and (b) THAT a Regular Election of Directors shall take place in connection with the Annual Meeting of the Council of Governors in 2022. (Adopted on July 31, 2020) MIGA Resolution No. 108 Page 2 of 4 Rules for the 2020 Regular Election of Directors DEFINITIONS 1. In these Rules, unless the context shall otherwise require, (a) “Convention” means the Convention Establishing the Multilateral Investment Guarantee Agency, as amended. (b) “Council” means the Council of Governors ofthe Agency. (c) “Chair” means the Chair of the Council or a Vice Chair acting as Chairman. (d) “Governor” includes the Alternate Governor or any temporary Alternate Governor, when acting for the Governor. (e) “Secretary” means the Corporate Secretary or any acting Corporate Secretary of the Agency. (f) “Election” means the 2020 Regular Election of Directors. (g) “Eligible votes” means the total number of votes that can be cast in the election of the Directors to be elected pursuant to the provisions of paragraphs 6 to 11 of Schedule B to the Convention. 2. All actions taken under these Rules, including communications by the Secretary and the Chair and nominations and balloting by the Governors, may be 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, 2020, when the term of office of the elected Directors shall commence. BASIC RULES-SCHEDULE B 4. The provisions of Schedule B of the Convention shall apply to the conduct of the election. For this purpose: (a) Twenty-five Directors shall be elected. (b) Six Directors shall be elected separately, one each by the Governors of the six members having the largest number of shares. The person nominated by each of the said Governors shall be deemed to be elected upon being so nominated. (c) The Directors not elected separately pursuant to paragraph 4(b) above shall be elected in accordance with the rules in paragraphs 5 through 12 below. SUPERVISION OF THE ELECTION 5. The Chair shall appoint such tellers and other assistants and take such other action as the Chair deems necessary for the conduct of the election. NOMINATIONS 6. (a) The Secretary shall request nominations from Governors during a suitable period specified by the Secretary. As noted in the Report of the Board of Directors to the Council of Governors dated June 22, 2020, Governors are urged to nominate the same persons as the Directors of MIGA as those elected to the Boards of the other World Bank Group MIGA Resolution No. 108 Page 3 of 4 institutions, and to form the same constituencies in the MIGA Board of Directors as those in the Boards of the other World Bank Group institutions. In addition, the Directors, particularly those elected by more than one Governor, are urged to appoint the same persons as Alternate Directors of MIGA as they have in the Boards ofthe other World Bank Group institutions. (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 election shall be eligible for election as 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 perio

FAQs

What does Resolution No. 108 require for the 2020 Regular Election of Directors?

It requires that the 2020 Regular Election of Directors take place in accordance with the attached Rules, and that a regular election of directors also occur in connection with the annual meeting in 2022.

When must the 2020 election conclude?

The election must conclude a reasonable time in advance of November 1, 2020, so that the elected directors’ term begins then.

How are nominations and ballots handled under the Rules?

The Secretary requests nominations for a specified period, collects nominations on a furnished form signed by the governor(s), distributes ballot lists and deadlines after nominations close, and conducts ballots by deposit with the Secretary, followed by counting and announcement of elected persons.

Jul 19, 2026

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