Higher education in Asian countries and the role of international ...
Higher education in Asian countries and the role of international ...
Higher education in Asian countries and the role of international ...
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The governors have <strong>the</strong> authority to admit or suspend members, review f<strong>in</strong>ancial statements <strong>and</strong><br />
budgets, make formal arrangements to cooperate with o<strong>the</strong>r <strong>in</strong>ternational organizations, <strong>and</strong><br />
exercise o<strong>the</strong>r powers that <strong>the</strong>y have not delegated (The World Bank, 2007). Once a year, <strong>the</strong><br />
Boards <strong>of</strong> Governors <strong>of</strong> <strong>the</strong> Bank Group, <strong>in</strong>clud<strong>in</strong>g ICSID‟s Adm<strong>in</strong>istrative Council, <strong>and</strong> <strong>the</strong><br />
International Monetary Fund (IMF) meet <strong>in</strong> a jo<strong>in</strong>t session known as <strong>the</strong> Annual Meet<strong>in</strong>gs.<br />
The executive directors are responsible for mak<strong>in</strong>g policy decisions affect<strong>in</strong>g <strong>the</strong> Bank Group‟s<br />
operations <strong>and</strong> for approv<strong>in</strong>g all loans. They are based at Bank Group headquarters <strong>in</strong><br />
Wash<strong>in</strong>gton, DC. President <strong>of</strong> <strong>the</strong> Group is selected by <strong>the</strong> executive directors. The Articles <strong>of</strong><br />
Agreement do not specify <strong>the</strong> nationality <strong>of</strong> <strong>the</strong> president, but he or she is always a U.S. national<br />
(by custom, nom<strong>in</strong>ated by <strong>the</strong> U.S. executive director), while <strong>the</strong> manag<strong>in</strong>g director <strong>of</strong> <strong>the</strong> IMF is<br />
always European. The president serves a term <strong>of</strong> five years which may be renewed. There is no<br />
m<strong>and</strong>atory retirement age.<br />
5.3.1.3 Independent Evaluation Group<br />
The Independent Evaluation Group is an <strong>in</strong>dependent unit that reports directly to <strong>the</strong> Board <strong>of</strong><br />
Executive Directors. Led by <strong>the</strong> Independent Evaluation Group‟s director general, <strong>the</strong> unit is<br />
tasked with assess<strong>in</strong>g <strong>the</strong> results <strong>of</strong> all <strong>of</strong> <strong>the</strong> Bank Group‟s work <strong>and</strong> <strong>of</strong>fer<strong>in</strong>g relevant<br />
recommendations. Separate units <strong>of</strong> <strong>the</strong> Independent Evaluation Group work with <strong>the</strong> Bank, IFC,<br />
<strong>and</strong> MIGA. The group undertakes its work dur<strong>in</strong>g <strong>the</strong> evaluation phase <strong>of</strong> all World Bank Group<br />
projects. The unit also supports <strong>the</strong> development <strong>of</strong> evaluation capacity <strong>in</strong> recipient <strong>countries</strong>.<br />
O<strong>the</strong>r units with related missions <strong>in</strong>clude <strong>the</strong> Compliance Advisor/ Ombudsman for IFC <strong>and</strong><br />
MIGA; <strong>the</strong> Office <strong>of</strong> Ethics <strong>and</strong> Bus<strong>in</strong>ess Conduct which deals with jo<strong>in</strong>t Bank <strong>and</strong> IFC units;<br />
<strong>and</strong> <strong>the</strong> Quality Assurance Group at <strong>the</strong> World Bank. In addition, <strong>the</strong> World Bank has set up <strong>the</strong><br />
<strong>in</strong>dependent Inspection Panel, a three-member body to whom citizens <strong>of</strong> develop<strong>in</strong>g <strong>countries</strong><br />
can br<strong>in</strong>g <strong>the</strong>ir concerns if <strong>the</strong>y believe that <strong>the</strong>y or <strong>the</strong>ir <strong>in</strong>terests have been or could be directly<br />
harmed by a project f<strong>in</strong>anced by <strong>the</strong> World Bank.<br />
5.3.1.4 The Five Institutions <strong>in</strong> <strong>the</strong> World Bank Group<br />
The <strong>in</strong>stitutions that make up <strong>the</strong> World Bank Group specialize <strong>in</strong> different aspects <strong>of</strong><br />
development, but <strong>the</strong>y work collaboratively toward <strong>the</strong> overarch<strong>in</strong>g goal <strong>of</strong> poverty reduction.<br />
The terms “World Bank” <strong>and</strong> “Bank” refer only to IBRD <strong>and</strong> IDA, whereas <strong>the</strong> terms “World<br />
Bank Group” <strong>and</strong> “Bank Group” <strong>in</strong>clude all five <strong>in</strong>stitutions.