The World Bank has received official communication from the Brazilian authorities that Mr. Abraham Weintraub has been nominated to be the Executive Director representing Brazil and its constituency at the Executive Board of Directors of the World Bank Group. If nominated and elected by his constituency, he would serve the remainder of the current term, that is, until October 31, 2020 when the position would need to be re-nominated and elected.
Executive Directors are not staff, they are the representatives of our 189 shareholders.
Complementary Statement
The World Bank would like to clarify that Mr. Abraham Weintraub is currently a nominee by the Government of Brazil to an Executive Director position, pending nomination and election by its constituency. Nominations are governed by a constituency’s internal agreements; the Bank’s role is limited to administering the election in accordance with the requirements of the Articles of Agreement. Elections process will close on July 30th and results will become public on July 31st. Nominations or elections to any Executive Director position are not led nor controlled by the World Bank. Also, regarding visa issuance, visa questions specifically for the USA should be sent to the US State Department.
USEFUL LINKS
For more about the World Bank’s leadership structure, click here:
For more about the World Bank’s Boards of Directors click here:
- https://www.worldbank.org/en/about/leadership/directors
- https://www.worldbank.org/en/about/leadership/directors/board-facts
- https://www.worldbank.org/en/about/leadership/directors/boards-at-work
For more about the EDS 15 – the constituency Brazil shares:
FREQUENTLY ASKED QUESTIONS
Q. What steps can be taken if there is a conflict of interest with a current Executive Director?
The Code of Conduct provides for disclosures by Board Officials regarding any conflict of interest (or doubts about whether a conflict of interest exists) and the Ethics Committee of the Executive Directors can provide guidance on any actions required to resolve them.
The Code of Conduct for Board Officials can be found here:
Q. Does Abraham Weintraub’s designation as Executive Director violate any internal rules of the institution?
It is important to understand that the nomination and election of Executive Directors is a shareholder-led process. The World Bank Group has a commitment to eliminating racism and other forms of discrimination in the institution and takes seriously its responsibility for ensuring that the principles set forth in the Board Code of Conduct, including the institution’s Core Values, are practiced by all Board Officials. From the moment he or she becomes a Board Official, an Executive Director is subject to the Code of Conduct, which applies prospectively. Board Officials are expected to maintain the highest standards of integrity and ethics in both their personal and professional conduct. Oversight of the Code of Conduct is a matter for the Ethics Committee of the Executive Directors.
Q. Could the World Bank eventually veto a nomination for the board?
The World Bank does not have veto power over its shareholders.
Q. What benefits do Executive Directors receive?
Remuneration data for Executive Directors can be found in our Annual Report. See page 19 in the following link: https://pubdocs.worldbank.org/en/955421569960935227/WBAR19-Organizational-Information.pdf
Q. Can you provide us details or send us an explanatory file on what is the process for Abraham Weintraub's nomination to the board?
The former Executive Director for the constituency resigned in December 2019, necessitating an interim election under the Bank’s Articles of Agreement. Mr. Abraham Weintraub is currently a nominee by the Government of Brazil to that Executive Director position, pending elections by its constituency. Constituency arrangements, including which country will nominate for the position of Executive Director, are regulated by internal constituency agreements. The Bank has no role in negotiating or administering these constituency agreements - they are purely matters for government shareholders. The Bank’s role is confined to administering the election in accordance with the requirements of the Articles.
The elections process will close on July 30th and results will become public on July 31st. The process typically takes 4 weeks.
Q. Does Mr. Weintraub already have an employment contract with the bank or is it necessary to wait for the approval of the other countries of the Brazilian constituency for this contract to be issued?
Mr. Abraham Weintraub is currently a nominee by the Government of Brazil to an Executive Director position, pending elections by its constituency. Executive Directors are representatives of the Bank’s member countries and are not members of staff.
Q. Having more than 50% of voting powers in the constituency, is the Brazilian ED election only pro-forma?
Election of Executive Directors is a shareholder led process. The current by-election will be among the nine countries who belong to that constituency. A majority of the votes cast shall be required for election. The Bank’s role is confined to administering the election in accordance with the requirements of the Articles.
Q. Can a person be nominated for a consecutive term? Can Mr. Weintraub be nominated again for the term starting November 1st?
Yes. Since nomination and election of Executive Directors is a shareholder led process, a member may choose to re-nominate an individual for the position of Executive Director for a subsequent election.
Q. Do staff rules apply to EDs?
A. No. As representatives of their respective countries and constituencies, Executive Directors are not World Bank staff. Instead, they are subject to a Code of Conduct for Board officials, which is available on the Bank's extranet:
Q: What are the other countries in Brazil’s constituency and what is the voting rights % of all of them, please?
The other countries in Brazil’s constituency are: Colombia, Dominican Republic, Ecuador, Haiti, Panama, Philippines, Suriname, and Trinidad and Tobago.
You can find their voting powers here: https://pubdocs.worldbank.org/en/329671541106474760/IBRDEDsVotingTable.pdf
Q. When will Mr. Weintraub be allowed to request a specific visa to work on the World Bank? Is he able to request it before the election?
All US visa questions must be addressed to the US State Department.
