The World Bank is run like a corporation, with our member countries as shareholders. Each shareholder' government is represented on the Board of Governors. Generally, these governors are government ministers, such as Ministers of Finance or Ministers of Development. Germany is represented on the Board of Governor to the World Bank by Mrs Heidemarie Wieczorek-Zeul, Federal Minister for Economic Cooperation and Development (BMZ). The alternate Governor to the World Bank is Mr. Joerg Asmussen, State Secretary at the Minister for Economic Cooperation and Development. To read more about the Board of Governors, click here
Because these governors meet only once a year to decide on key actions such as admitting new members or changing the authorized capital stocks, they delegate responsibility for overseeing the day-to-day business of the institutions to their designated representatives on the World Bank's Executive Board. The Executive Board is made up of 24 Executive Directors representing the 185 member countries of the World Bank. To learn more about the composition of the Executive Board, click here
The Executive Directors reside in Washington and normally meet twice a week to oversee our business and to give their approval for loans and guarantees, new policies, the administrative budget, country support strategies, and borrowing and financial decisions. To see the work program of the Board, click here
The position of Executive Director for Germany is currently held by Mr. Michael John Hofmann, German National. This official is supported in his functions by an Alternate Executive Director, who is currentlyMr. Rüdiger von Kleist, German National, as well as by a team of advisors and locally hired staff. For details, see the website of the Office of the Executive Director for Germany here
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