Italy and the World Bank

Like all 185 member countries of the World Bank Group, Italy is represented in its governing councils by a Governor and an Alternate Governor. Mr. Mario Draghi, Governor of the Central Bank of Italy, serves as Italian Governor for the World Bank and Mr. Ignazio Angeloni, Director General for International Financial Relations, Ministry of the Treasury, serves as Alternate Governor.

Because these officers 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. These Board members, called Executive Directors, reside in Washington and meet regularly throughout the year (normally at least twice a week) to review and act on lending operations, new policy directions, and financial matters.

The 24-member Executive Board is made up of five Executive Directors who are appointed by the five largest shareholders (in alphabetical order, France, Germany, Japan, the United Kingdom and the United States and 19 others who are elected by groups of countries to represent their interests. To learn more about the composition of the Executive Board, click here.

Italy's IBRD, IFC and MIGA Board representation is shared with Albania, Greece, Portugal, Malta, San Marino, and Timor-Lester. Its IDA Board representation is also shared with these countries, excluding Malta. Mr. Giovanni Majnoni, an Italian national, is the Executive Director for this group. He is supported in his functions by an Alternate Executive Director, who is currently Mr Nuno Mota Pinto, a Portuguese national, as well as by a team of advisors and locally hired staff.

Link to: Office of the Executive Director (ESD21)
Email: EDS21@worldbank.org