GOVERNANCE
A Council of Governors and a Board of Directors, representing 182 member countries, guide MIGA’s programs and activities. Each country appoints one governor and one alternate. MIGA’s corporate powers are vested in the Council of Governors, which delegates most of its powers to a Board of 25 Directors. Voting power is weighted according to the share of capital that each director represents. MIGA’s Board meets in the World Bank Group headquarters in Washington, D.C., and it convenes regularly to review and decide on investment guarantee projects and oversee general management policies.
Visit the Board’s website for more information:www.worldbank.org/en/about/leadership/governors
The Office of the Compliance Advisor Ombudsman (CAO) is the independent accountability mechanism for MIGA and IFC. The CAO responds to complaints from people affected by MIGA- and IFC-supported business activities, with the goals of enhancing environmental and social outcomes on the ground and fostering greater public accountability of both institutions.
Visit the CAO website for more information: www.cao-ombudsman.org
Group Internal Audit (GIA) provides independent, objective, insightful risk-based assurance and advice to protect and enhance the value of the World Bank Group. GIA gives management and the Board reasonable assurance that processes for managing and controlling risks—as well as their overall governance—are adequately designed and functioning effectively. GIA reports to the President and is under the oversight of the Audit Committee.
Visit the GIA website for more information: www.worldbank.org/internalaudit
The Independent Evaluation Group (IEG) assesses MIGA’s strategies, policies, and projects to improve the institution’s development results. The IEG is independent of MIGA management and reports its findings to MIGA’s Board of Directors and the Board’s Committee on Development Effectiveness.
Visit the IEG website for more information: ieg.worldbankgroup.org
An independent unit within the World Bank Group, the Integrity Vice Presidency (INT) investigates and pursues sanctions related to allegations of fraud, corruption, collusion, coercion, and obstruction in World Bank Group–financed projects, as well as fraud and corruption by Bank Group staff and vendors. In addition, through its Integrity Compliance Office, INT engages with parties toward meeting their conditions for release from sanction. INT shares its investigative insights across the institution to help mitigate fraud and corruption risk in projects, playing a fundamental role in supporting the Bank Group’s fiduciary responsibility for the development resources it manages.
Visit the INT website for more information: www.worldbank.org/integrity
To report suspected fraud, corruption, or other sanctionable practices in Bank Group–financed projects, visit www.worldbank.org/fraudandcorruption.
