Boards of Executive Directors - Regulations Relating to Executive Directors and Alternates Page 1 of 2

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Regulations Relating to Executive Directors and Alternates

INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT
REGULATIONS RELATING TO EXECUTIVE DIRECTORS AND ALTERNATES
ADOPTED PURSUANT TO SECTION 13
OF THE BY-LAWS OF THE BANK
1. (a) Section 13(e) of the By-Laws provides as follows:
"(e)(i) Executive Directors and their Alternates shall be entitled to remuneration in the form of salary and
supplemental allowances at such annual rates as shall be determined from time to time by the Board of Governors.
Remuneration as determined shall continue until changed by the Board of Governors. Such remuneration shall be
prorated, in accordance with such rules and regulations as the Executive Directors shall from time to time approve,
according to the time spent by the Executive Director or Alternate Executive Director in the service of the Bank.
(ii) A standing Joint Committee on the Remuneration of Executive Directors and their Alternates, appointed by the
Chairmen of the Boards of Governors of the Fund and Bank and consisting of one of the Chairmen and two former
Governors or Alternate Governors of the Fund or Bank, chosen by the Chairmen in consultation with the Managing
Director of the Fund and the President of the Bank, shall be constituted following each Annual Meeting. The Joint
Committee shall consider all matters affecting the remuneration and other benefits of the Executive Directors of the
Bank and Fund, and of their Alternates, and from time to time, but at least by July I of each year in which a regular
election of Executive Directors is scheduled to be held, shall make such recommendations for any action by the
Board of Governors on the said matters as the Joint Committee shall deem advisable. Reports of the Joint
Committee shall be submitted to the Board of Governors for a vote on any recommendation contained therein
without meeting in accordance with Section 12 of the By-Laws. In making proposals with respect to the
remuneration of the Executive Directors and their Alternates, the Committee shall bear in mind their functions under
the Articles of Agreement of the Bank in relation to those of the President."
(b) The remuneration of an Executive Director or Alternate shall be paid, as salary and supplemental allowances, on
the basis of a written certification, made by him to the Bank, setting forth the periods or amount of his service for the
Bank. Any such statement may be amended from time to time as circumstances shall require.
2. (a) Section 13(f) of the By-laws reads as follows:
"(f) The Executive Directors may by regulation make appropriate provision whereby (i) each Executive Director and
Alternate Executive Director who shall at the request of the President perform designated service for the Bank shall
be entitled to a reasonable allowance for expenses incurred by him in the performance thereof-, (ii) each Executive
Director and Alternate Executive Director, but not a temporary Alternate Executive Director, shall be entitled to
reasonable leave and resettlement allowances with due regard to the time spent by him in the service of the Bank;
and (iii) each Executive Director or Alternate Executive Director shall be entitled to reimbursement of reasonable
expenses incurred by him in connection with official Bank business to entertain senior officials of the Governments
or central banks or prominent representatives of the academic, public or private sectors of the countries that
appointed, elected, or designated him. The allowances provided pursuant to this Sub-section shall be in addition to
remuneration under Sub-section (e)(i) of this Section."
(b) An Executive Director or an Alternate may receive a reasonable allowance for expenses incurred by him on
approved official travel to the country, or countries, he represents. Such travel of Executive Directors and Alternates
shall be approved by the Board. Notice of intention to travel officially between the Bank and their countries shall be
given to the Board through the Vice President and Secretary. In the absence of ob ection, such travel shall be
deemed approved and the Vice President and Secretary shall so inform the Administrative Services and Controller's
Departments. Such notice shall be submitted to the Board for consideration prior to undertaking such travel;
provided, however, that when circumstances do not permit submission of prior notice, notice shall be given to the
Vice President and Secretary who shall submit it to the Board. The signature of the individual concerned shall be
sufficient authorization pending consideration of such notice by the Board.
(c) A full-time Executive Director and a full-time Alternate shall be entitled to reasonable leave in each period of 12
months beginning with the date of his taking of office; provided that, at the termination of his service, unused leave
shall be regarded as having lapsed.
(d) Each full-time Executive Director or full-time Alternate shall be reimbursed for reasonable expenses of travel and
transportation for such Director or Alternate and his or her family, and for his or her personal effects, in moving once

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Boards of Executive Directors - Regulations Relating to Executive Directors and Alternates Page 2 of 2

to the seat of the Bank during or immediately before his or her period of service and in moving once from the seat
during or immediately after his or her period of service. In addition, any Executive Director or Alternate shall, in the
third year of continuous full-time service in either capacity and for each year of such service thereafter, be entitled to
receive a reasonable allowance for expenses of transportation of his or her family in traveling once to and from the
country of which he or she is a national. For home leave travel after the third year of continuous service, the
allowance shall vary depending on the number of years of continuous service for which travel is elected, as follows:
for travel relating to one year of service, cash for an excursion fare; for two years of service, a business class ticket
or cash for an economy fare; for three years of service, a first class ticket. For home leave travel in the third year of
service, any one of the above alternatives can be selected.
(e) The "reasonable allowance for expenses" provided for in clause (i) of Section 13(f) of the By-Laws and in these
Regulations shall be based on the established policies of the Bank.
(f) Leave and resettlement allowances of a part-time Executive Director or Alternate shall bear a reasonable relation
to the time spent by him in the service of the Bank; except that any such Executive Director or Alternate who
spends the greater part of his time in the service of the Bank, or of the Bank and Fund, shall come under Section
(d) above.
3. As used in these Regulations, the term "full-time" shall be deemed to mean full-time service for the Bank or for
the Bank and either or both the Fund and the International Finance Corporation. In the case of an Executive
Director or an Alternate Executive Director serving both the Bank and either or both the Fund and the International
Finance Corporation appropriate arrangements will be made by the institutions for sharing the remuneration and
other expenses provided for herein and in their respective By-Laws.
4. In the interests of the Bank other appropriate arrangements consistent with the By-Laws and the purposes of
these Regulations may be made in individual cases, in consultation with the President.
5. For the purposes of these Regulations, service for the International Development Association shall be deemed to
be service for the Bank.
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