The Members of the Executive Board of the World Bank Group (WBG) have unanimously selected the Executive Director of the Saudi Office at the World Bank, Mr. Khalid Bawazier, as member of the Audit Committee (AC) and Committee on Governance and Executive Directors' Administrative Matters (COGAM) of the Executive Board of the WBG, until October 31, 2024.
This decision reflects the remarkable status that the Kingdom holds globally, and the international trust in the Saudi Executive Director to contribute to advancing the performance of these two committees, which play a vital role in the Executive Board of the WBG.
The Audit Committee aims to support the Board in overseeing the WBG's finances, risk management, internal controls and institutional integrity. Members of this committee are executive directors of Saudi Arabia, the United States, China, France, Türkiye, Norway, and Indonesia, and it is currently chaired by the executive director of Italy.
The primary purpose of the Committee on Governance and Administrative Matters is to assist the Boards in issues related to the governance of the institutions of the WBG and the effectiveness of the Boards, including governance aspects related to representation and shareholding in WBG institutions, as well as the administrative policy applicable to the Executive Directors' offices. The Committee is currently chaired by the Executive Director of Argentina, and includes, as members, the Executive Directors of Saudi Arabia, China, the United Kingdom, India, Russia, Japan, and Canada.