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                                   Office of the Executive Director (EDS-21)                                              Albania, Greece, Italy, Malta Portugal, San Marino, and Timor-Leste 

The office of the Executive Director for EDS21 represents a group of 7 countries which composes our "Constituency":Smaller Const. map

The Executive Director’s Office (EDs Office) represents its Constituency when it must consider and decide on IBRD loan and guarantee proposals and IDA credit, or grant and guarantee proposals made by the President, and when it must decide on policies that guide the Bank's general operations. The EDs Office is also responsible, on behalf of the Constituency, for presenting to the Board of Governors, at the Annual Meetings, an audit of accounts, an administrative budget, and an annual report on the Bank's operations and policies, as well as other matters.

Some Executive Directors' offices represent only one country (such is the case of China, France, Germany, Japan, Russia,  Saudi Arabia, the United States, and the United Kingdom), whereas other offices might include constituencies with more than 20 countries. The constituency group is usually formed on the basis of geographical proximity, common interests and objectives, or other factors which may give advantage to the union. Our constituency group, for instance, is tied mostly by geographical vicinity. Timor-Leste, which became a member in 2002, although not linked by physical proximity, was included in our constituency because of its former colonial association with Portugal.

Being the Executive Director of a constituency may pose some coordination challenge, but it can offer the advantage of increasing the Office’s voting power.  The voting power of the Executive Director at the Board equals the sum of all the shares of the constituency countries of its office.  Constituency composition may vary with time, depending on the countries’ change of interest, negotiations, or other factors which may justify new associations.

Every shareholder (member country) is allocated a certain number of votes, which is linked to the size of its shareholding. The votes include a specified number of membership votes (which is the same for all members) and additional votes based on the number of shares held. Thus, the member's voting power consists of the number of votes of a member expressed as a percentage of the total number of votes held by all shareholders.                                            
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Last updated: 2009-08-27

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