The Executive Directors are responsible for the World Bank and IMF daily activities in general. Five of the 24 EDs are appointed by the member countries having the largest number of shares in the Bank. The other countries are grouped into constituencies and represented by an Executive Director, elected every two years.
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Development Economics Department
Department of the World Bank responsible for collecting, studying and sharing information relating to development.
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Countries of Central and Eastern Europe and Central Asia
Countries of Central and Eastern Europe and Central Asia
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Strategic Partnership for Africa
Major coordinating instrument for aid to Africa. Group of bilateral donors and multilateral lenders who provide resources to African countries.
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Programme Lending
IMF, World Bank or other donor lending to support an adjustment programme.
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Part I Countries
Donors to the International Development Association (IDA) who pay their contributions in freely convertible currency.
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Least Developed Countries
Forty-eight poor and vulnerable countries, defined by the UN with an annual per capita income of less than US$ 1 per day.
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Heavily-Indebted Poor Countries
Forty-one low-income countries whose external debt level is deemed to be unsustainable.
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Executive Board
A committee of Executive Directors representing the decision-making forum for the World Bank and the IMF.
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Development Assistance Committee
This committee within the OECD provides a forum for consultation among the 21 donor countries on how to increase the level and effectiveness of aid flows to recipient countries.
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Capital Account Liberalisation
Removal of controls on the international flows on a country's capital account, enabling full currency convertibility and opening of the financial system.
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Southern Countries
Encompasses what is commonly termed as 'developing' and 'less developed' countries of Africa, Asia and Latin America.