Common use of President and Staff Clause in Contracts

President and Staff. (a) The Governing Council shall appoint the President by a two-thirds majority of the total number of votes. He shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, on the recommendation of the Executive Board, extend the term of office of the President beyond the duration prescribed in paragraph (a) above. Any such extension shall be for no more than six months. (c) The President may appoint a Vice-President, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staff, in the discharge of their functions, owe their duty exclusively to the Fund and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fund. Each Member of the Fund shall respect the international character of this duty and shall refrain from any attempt to influence them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. (a) The Governing Council Board of Governors shall appoint elect a President from one of the founding members on a rotational basis, who shall not be a Governor or a Director or an alternate for either. The President shall be a member of the Board of Directors, but shall have no vote except a deciding vote in case of an equal division. The President may participate in meetings of the Board of Governors, but shall not vote at such meetings. Without prejudice to the mandate established in item (d) below, the President shall cease to hold office should the Board of Governors so decide by a two-thirds majority special majority. b) The President shall be chief of the total number operating staff of votesthe Bank and shall conduct, under the direction of the Directors, the ordinary business of the Bank, and in particular: (i) being, on this, accountable to the Directors, the President shall be responsible for the organization, appointment and dismissal of the officers and staff, and recommendation of admission and dismissal of Vice Presidents to the Board of Governors; (ii) the President shall head the credit and investment committee, composed also by the Vice-Presidents, that will be responsible for decisions on loans, guarantees, equity investments and technical assistance of no more than a limit amount to be established by the Board of Directors, provided that no objection is raised by any member of Board of Directors within 30 (thirty) days since such project is submitted to the Board. c) There shall be at least 1 (one) Vice-President from each founding member except the country represented by the President. He Vice-Presidents shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority Board of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, Governors on the recommendation of the Executive Board, extend President. Vice-Presidents shall exercise such authority and perform such functions in the term of office administration of the President beyond Bank, as may be determined by the duration prescribed in paragraph (a) above. Any such extension shall be for no more than six monthsBoard of Directors. (c) The President may appoint a Vice-President, who shall perform such duties as shall be assigned to him by the President. (d) The President and each Vice-President shall head serve for a 5 (five) year term, non renewable, except for the staff and, under the control and direction first term of the Governing Council and the Executive Boardfirst Vice-Presidents, whose mandate shall be responsible for conducting 6 (six) years. e) The Bank, its officers and employees shall not interfere in the business political affairs of any member, nor shall they be influenced in their decisions by the political character of the Fundmember or members concerned. The President Only economic considerations shall organize be relevant to their decisions, and these considerations shall be weighed impartially in order to achieve the staff purpose and shall appoint functions stated in Articles 2 and dismiss members of the staff in accordance with regulations adopted by the Executive Board3. (e) In the employment of the staff and in the determination of the conditions of service, consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President President, Vice-Presidents, officers and staff of the staffBank, in the discharge of their functionsoffices, owe their duty exclusively entirely to the Fund Bank and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fundno other authority. Each Member member of the Fund Bank shall respect the international character of this duty and shall refrain from any attempt all attempts to influence any of them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. (a) The Governing Council shall appoint the President by a two-thirds majority of the total number of votes. He shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, on the recommendation of the Executive Board, extend the term of office of the President beyond the duration prescribed in paragraph (a) above. Any such extension shall be for no more than six months. (c) The President may appoint a Vice-President, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance accord- ance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, consideration considera- tion shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staff, in the discharge of their functions, owe their duty exclusively to the Fund and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fund. Each Member of the Fund shall respect the international character of this duty and shall refrain from any attempt to influence them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development develop- ment policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. (a) The Governing Council shall appoint the President by a two-thirds majority of the total number of votes. He shall be appointed for a term of four three years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-two- thirds majority of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, on the recommendation of the Executive Board, extend the term of office of the President beyond the duration prescribed in paragraph (a) above. Any such extension shall be for no more than six months. (c) The President may appoint a Vice-President, who shall perform such duties as shall be assigned to him by the President. (dc) The President shall head the staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (ed) In the employment of the staff and in the determination of the conditions of service, service consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (fe) The President and the staff, in the discharge of their functions, owe their duty exclusively to the Fund and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fund. Each Member of the Fund shall respect the international character of this duty and shall refrain from any attempt to influence them in the discharge of their duties. (gf) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (hg) The President shall be the legal representative of the Fund. (ih) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. (Paragraph a) The Governing Council Board of Governors shall appoint elect a President from one of the founding members on a rotational basis, who shall not be a Governor or a Director or an alternate for either. The President shall be a member of the Board of Directors, but shall have no vote except a deciding vote in case of an equal division. The President may participate in meetings of the Board of Governors, but shall not vote at such meetings. Without prejudice to the mandate established in item (d) below, the President shall cease to hold office should the Board of Governors so decide by a two-thirds majority special majority. Paragraph b) provides that the President shall be chief of the total number operating staff of votesthe Bank and shall conduct, under the direction of the Directors, the ordinary business of the Bank. He Sub- paragraph i) provides that: he/she shall be accountable to the Directors; he/she shall be responsible for the organization; he/she shall be responsible for appointment and dismissal of the officers and staff, and recommendation of admission and dismissal of Vice Presidents to the Board of Governors. Sub-paragraph ii) provides that the President shall head the credit and investment committee (Furthermore, this sub-paragraph provides that this committee shall be composed also by the Vice-Presidents, and shall be responsible for decisions on loans, guarantees, equity investments and technical assistance of no more than a limit amount to be established by the Board of Directors. It provides that the decisions made of this committee shall be final with the provision that no objection is raised by any member of Board of Directors within 30 (thirty) days since such project is submitted to the Board). Paragraph c) provides that there shall be at least 1 (one) Vice-President from each founding member except the country represented by the President. It provides that Vice-Presidents shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority Board of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, Governors on the recommendation of the Executive BoardPresident. Additionally, extend it provides that Vice-Presidents shall exercise such authority and perform such functions in the administration of the Bank, as may be determined by the Board of Directors. Paragraph d) provides that the President and each Vice-President shall serve for a 5 (five) year term, non renewable, except for the first term of office the first Vice-Presidents, that shall be 6 (six) year term. Paragraph e) provides that the Bank, its officers and employees shall not interfere in the political affairs of any member, nor shall they be influenced in their decisions by the political character of the President beyond the duration prescribed in paragraph (a) abovemember or members concerned. Any such extension It provides that only economic considerations shall be for no more than six monthsrelevant to their decisions, and these considerations shall be weighed impartially in order to achieve the purpose and functions stated in Articles 2 and 3. (cParagraph f) The President may appoint a provides that the President, Vice-PresidentPresidents, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the officers and staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staffBank, in the discharge of their functionsoffices, shall owe their duty exclusively entirely to the Fund Bank and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fundno other authority. Each Member It provides that each member of the Fund Bank shall respect the international character of this duty and shall refrain from any attempt all attempts to influence any of them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. (Paragraph a) The Governing Council Board of Governors shall appoint elect a President from one of the founding members on a rotational basis, who shall not be a Governor or a Director or an alternate for either. The President shall be a member of the Board of Directors, but shall have no vote except a deciding vote in case of an equal division. The President may participate in meetings of the Board of Governors, but shall not vote at such meetings. Without prejudice to the mandate established in item (d) below, the President shall cease to hold office should the Board of Governors so decide by a two-thirds majority special majority. Paragraph b) provides that the President shall be chief of the total number operating staff of votesthe Bank and shall conduct, under the direction of the Directors, the ordinary business of the Bank. He Sub-paragraph i) provides that: he/she shall be accountable to the Directors; he/she shall be responsible for the organization; he/she shall be responsible for appointment and dismissal of the officers and staff, and recommendation of admission and dismissal of Vice Presidents to the Board of Governors. Sub- paragraph ii) provides that the President shall head the credit and investment committee (Furthermore, this sub-paragraph provides thath this committee shall be composed also by the Vice- Presidents, and shall be responsible for decisions on loans, guarantees, equity investments and technical assistance of no more than a limit amount to be established by the Board of Directors. It provides that the decisions made of this committee shall be finall with the proviso that no objection is raised by any member of Board of Directors within 30 (thirty) days since such project is submitted to the Board). Paragraph c) provides that there shall be at least 1 (one) Vice-President from each founding member except the country represented by the President. It provides that Vice-Presidents shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority Board of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, Governors on the recommendation of the Executive BoardPresident. Addtiionally it providest that Vice- Presidents shall exercise such authority and perform such functions in the administration of the Bank, extend as may be determined by the Board of Directors. Paragraph d) provides that the President and each Vice-President shall serve for a 5 (five) year term, non renewable, except for the first term of office the first Vice-Presidents, that shall be 6 (six) year term. Paragraph e) provides that the Bank, its officers and employees shall not interfere in the political affairs of any member, nor shall they be influenced in their decisions by the political character of the President beyond the duration prescribed in paragraph (a) abovemember or members concerned. Any such extension It provides that only economic considerations shall be for no more than six monthsrelevant to their decisions, and these considerations shall be weighed impartially in order to achieve the purpose and functions stated in Articles 2 and 3. (cParagraph f) The President may appoint a provides that the President, Vice-PresidentPresidents, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the officers and staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staffBank, in the discharge of their functionsoffices, shall owe their duty exclusively entirely to the Fund Bank and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fundno other authority. Each Member It provides that each member of the Fund Bank shall respect the international character of this duty and shall refrain from any attempt all attempts to influence any of them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. a. The Board of Governors shall elect a President from one of the founding members on a rotational basis, who shall not be a Governor or a Director or an alternate for either. The President shall be a member of the Board of Directors, but shall have no vote except a deciding vote in case of an equal division. The President may participate in meetings of the Board of Governors, but shall not vote at such meetings. Without prejudice to the mandate established in item (ad) The Governing Council shall appoint below, the President shall cease to hold office should the Board of Governors so decide by a two-thirds majority special majority. b. The President shall be chief of the total number operating staff of votesthe Bank and shall conduct, under the direction of the Directors, the ordinary business of the Bank, and in particular: i. being, on this, accountable to the Directors, the President shall be responsible for the organization, appointment and dismissal of the officers and staff, and recommendation of admission and dismissal of Vice Presidents to the Board of Governors; ii. He the President shall head the credit and investment committee, composed also by the Vice-Presidents, that will be responsible for decisions on loans, guarantees, equity investments and technical assistance of no more than a limit amount to be established by the Board of Directors, provided that no objection is raised by any member of Board of Directors within 30 (thirty) days since such project is submitted to the Board. c. There shall be at least 1 (one) Vice-President from each founding member except the country represented by the President. Vice-Presidents shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority Board of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, Governors on the recommendation of the Executive BoardPresident. Vice-Presidents shall exercise such authority and perform such functions in the administration of the Bank, extend as may be determined by the Board of Directors. d. The President and each Vice-President shall serve for a 5 (five) year term, non renewable, except for the first term of office of the President beyond the duration prescribed in paragraph (a) above. Any such extension first Vice-Presidents, whose mandate shall be for no more than six months6 (six) years. (c) e. The President may appoint a Bank, its officers and employees shall not interfere in the political affairs of any member, nor shall they be influenced in their decisions by the political character of the member or members concerned. Only economic considerations shall be relevant to their decisions, and these considerations shall be weighed impartially in order to achieve the purpose and functions stated in Articles 2 and 3. f. The President, Vice-PresidentPresidents, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the officers and staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staffBank, in the discharge of their functionsoffices, owe their duty exclusively entirely to the Fund Bank and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fundno other authority. Each Member member of the Fund Bank shall respect the international character of this duty and shall refrain from any attempt all attempts to influence any of them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. (a) The Governing Council shall appoint the President by a two-thirds majority of the total number of votes. He shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, on the recommendation of the Executive Board, extend the term of office of the President beyond the duration prescribed in paragraph (a) above. Any such extension shall be for no more than six months. (c) The President may appoint a Vice-President, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, service consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staff, in the discharge of their functions, owe their duty exclusively to the Fund and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fund. , Each Member of the Fund shall respect the international character of this duty and shall refrain from any attempt to influence them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.

President and Staff. a. The Board of Governors shall elect a President from one of the founding members on a rotational basis, who shall not be a Governor or a Director or an alternate for either. The President shall be a member of the Board of Directors, but shall have no vote except a deciding vote in case of an equal division. The President may participate in meetings of the Board of Governors, but shall not vote at such meetings. Without prejudice to the mandate established in item (ad) The Governing Council shall appoint below, the President shall cease to hold office should the Board of Governors so decide by a two-thirds majority special majority. b. The President shall be chief of the total number operating staff of votesthe Bank and shall conduct, under the direction of the Directors, the ordinary business of the Bank, and in particular: i. being, on this, accountable to the Directors, the President shall be responsible for the organization, appointment and dismissal of the officers and staff, and recommendation of admission and dismissal of Vice Presidents to the Board of Governors; ii. He the President shall head the credit and investment committee, composed also by the Vice- Presidents, that will be responsible for decisions on loans, guarantees, equity investments and technical assistance of no more than a limit amount to be established by the Board of Directors, provided that no objection is raised by any member of Board of Directors within 30 (thirty) days since such project is submitted to the Board. c. There shall be at least 1 (one) Vice-President from each founding member except the country represented by the President. Vice-Presidents shall be appointed for a term of four years and shall be eligible for reappointment for only one further term. The appointment of the President may be terminated by the Governing Council by a two-thirds majority Board of the total number of votes. (b) Notwithstanding the restriction on the term of office of the President of four years, contained in paragraph (a) of this Section, the Governing Council may, under special circumstances, Governors on the recommendation of the Executive BoardPresident. Vice-Presidents shall exercise such authority and perform such functions in the administration of the Bank, extend as may be determined by the Board of Directors. d. The President and each Vice-President shall serve for a 5 (five) year term, non renewable, except for the first term of office of the President beyond the duration prescribed in paragraph (a) above. Any such extension first Vice-Presidents, whose mandate shall be for no more than six months6 (six) years. (c) e. The President may appoint a Bank, its officers and employees shall not interfere in the political affairs of any member, nor shall they be influenced in their decisions by the political character of the member or members concerned. Only economic considerations shall be relevant to their decisions, and these considerations shall be weighed impartially in order to achieve the purpose and functions stated in Articles 2 and 3. f. The President, Vice-PresidentPresidents, who shall perform such duties as shall be assigned to him by the President. (d) The President shall head the officers and staff and, under the control and direction of the Governing Council and the Executive Board, shall be responsible for conducting the business of the Fund. The President shall organize the staff and shall appoint and dismiss members of the staff in accordance with regulations adopted by the Executive Board. (e) In the employment of the staff and in the determination of the conditions of service, consideration shall be given to the necessity of securing the highest standards of efficiency, competence and integrity as well as to the importance of observing the criterion of equitable geographical distribution. (f) The President and the staffBank, in the discharge of their functionsoffices, owe their duty exclusively entirely to the Fund Bank and shall neither seek nor receive instructions in regard to the discharge thereof from any authority external to the Fundno other authority. Each Member member of the Fund Bank shall respect the international character of this duty and shall refrain from any attempt all attempts to influence any of them in the discharge of their duties. (g) The President and the staff shall not interfere in the political affairs of any Member. Only development policy considerations shall be relevant to their decisions and these considerations shall be weighed impartially in order to achieve the objective for which the Fund was established. (h) The President shall be the legal representative of the Fund. (i) The President, or a representative designated by him, may participate, without the right to vote, in all meetings of the Governing Council.