Subhash Chandra Garg selected as the ED of the World Bank

Senior IAS officer Subhash Chandra Garg, a 1983-batch IAS officer of Rajasthan cadre, was selected as the ED (Executive Director) of the World Bank. The order released by the Appointments Committee of Cabinet (ACC) held that Subhash Garg will have tenure of 3 years from the date of assuming charge of the post.
An ED of the World Bank is accountable for the conduct of the general operations of the Bank. They also carry out all the powers authorized to them by the Boards of Governors and choose a President who performs as Chairman of the Boards.
EDs are also accountable for IBRD’s (International Bank for Reconstruction and Development) loans, guarantees and policies that effect the World Bank’s general operations amid others.

Month: Current Affairs - September, 2014