Michael McGrath
Question:157. Deputy Michael McGrath asked the Minister for Finance the representation Ireland has in the governance and management of the World Bank; and if he will make a statement on the matter. [25820/17]
View answerTuesday, 30 May 2017
Questions (157)
Written answers
The World Bank Group comprises five institutions: the International Bank for Reconstruction and Development (IBRD); the International Development Association (IDA); the International Finance Corporation (IFC); the Multinational Investment Guarantee Agency (MIGA); and the International Centre for the Settlement of Investment Disputes (ICSID).
The Minister for Finance is Ireland’s representative on the Board of Governors at the World Bank Group and this mirrors the position of Ministers from other countries represented at the World Bank.
Ireland is a member of a World Bank Group Constituency which also includes Canada and eleven English-speaking Caribbean Countries. Canada permanently holds the post of Executive Director for the Constituency.
Ireland has two permanent representatives in the Constituency Office. Mary O’Dea, seconded from the Central Bank, has served as Senior Advisor since 2014, while Alex Lalor, seconded from the Department of Finance, has served as an Advisor in the Constituency Office since February 2016. Our Advisors work closely with the Department, with Irish Aid and Enterprise Ireland as well as other Government Departments and agencies, as appropriate, to promote Irish interests in the wider context of their contribution to the work of the World Bank.
Ireland's voting power in the International Development Association (IDA) is determined by our contributions to IDA replenishments, relative to other members. Ireland's voting power in each of the other four constituents of the World Bank Group is determined mainly by our relative share of the Capital stock in the relevant organisation. Our current voting power in the constituent organisations is as follows
IBRD, 0.36%
IFC, 0.08%
MIGA, 0.4%
IDA, 0.36%