ABSTRACT
The Board of Executive Directors is responsible for the operations of the Bank. It establishes the Bank’s policies, approves loan and technical co-operation proposals that are submitted by the President of the Bank, and authorizes the Bank’s borrowings on capital markets. The executive structure of the Bank comprises the President, Executive Vice-President and Vice-Presidents for Countries; Sectors and Knowledge; and Finance and Administration. A Fund for Special Operations enabled the Bank to make concessional loans for economic and social projects where circumstances call for special treatment, such as lower interest rates and longer repayment terms than those applied to loans from the ordinary resources. In mid-2000 a committee of the Board of Governors endorsed a financial framework for the Bank’s participation in an enhanced initiative of the International Monetary Fund and the World Bank to assist heavily indebted poor countries to maintain a sustainable level of debt.
