CURRENT AFFAIRS

Detailed explanation-1: -NEW DELHI, August 1, 2022-Auguste Tano Kouamé is the World Bank’s Country Director for India, effective today. He replaces Junaid Kamal Ahmad who recently completed a five-year term.

Detailed explanation-2: -Although the board of governors has some influence on IBRD policies, actual decision-making power is wielded largely by the bank’s 25 executive directors. Five major countries-the United States, Japan, Germany, the United Kingdom, and France-appoint their own executive directors.

Detailed explanation-3: -Traditionally, the World Bank Group president has always been an American citizen nominated by the United States, the largest shareholder in the World Bank Group. The nominee is subject to confirmation by the Board of Executive Directors, to serve for a five-year, renewable term.