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Public Financial Disclosure for World Bank Group Senior Managers 2012

“Public trust and confidence are invaluable assets for governments and institutions. The Bank Group is already active in promoting transparency in public finances and strengthening governance. This is an increasingly important area of engagement because it drives confidence and decision making amongst investors, businesses and households.”

Jim Yong Kim, President

The World Bank Group has a declaration of interests program to ensure that any actual, potential, or apparent conflicts of interest arising from staff members’ financial interests, business relationships, other private affiliations or outside activities, or those of their immediate family members, can be identified and managed in the best interests of the Bank Group. Staff members are required to complete and submit a confidential declaration of interests on an annual basis. The Bank Group’s Office of Ethics and Business Conduct administers the program in accordance with Principle 3 under the Principles of Staff Employment and Staff Rule 3.03, Financial Interest and Disclosure.

The 2008 World Bank Group Annual Report announced that for the first time there would be public disclosure of financial and outside interests by the Bank Group’s Senior Management Team. In the spirit and interest of good organizational governance and transparency, the Bank Group’s Senior Management Team had agreed to make summaries of their disclosures public. In 2009, many of the Bank Group’s Vice Presidents also elected to make summaries of their disclosures public. Currently, the Senior Management Team/Vice Presidents Financial Disclosure Program includes public disclosure for all participants.

The Office of Ethics and Business Conduct reviews in-depth and certifies the declarations of the Senior Management Team and Vice Presidents. The summary disclosure statements are posted on this site after an independent accounting firm has performed agreed-upon procedures to evaluate the consistency of the summary with the more detailed internally-disclosed information. That agreed-upon procedures engagement is conducted in accordance with standards promulgated by the American Institute of Certified Public Accountants.

Senior Management Team members

Vice Presidents

2012 2011 2010

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