Sergii Marchenko will chair the Boards of Governors of the World Bank and the IMF in 2023

Today, October 14, the Governors of World Bank Group and the International Monetary Fund member countries selected the Minister of Finance of Ukraine Sergii Marchenko as the Chair of the Boards of Governors of the World Bank and the IMF in 2023. This decision was approved unanimously by all member countries of the organizations.

Sergii Marchenko will also chair the Annual Meetings of the IMF and the World Bank in 2023.

"This decision was adopted unanimously by all governing member countries of the World Bank Group and the International Monetary Fund. This happened for the first time in 30 years of Ukraine's membership in the World Bank and the IMF. Over this long time, we have formed reliable and transparent partnership relations. And I am sincerely grateful to our friends and partners for their trust. It is a great honor to represent Ukraine in the international financial arena. The new status will allow increasing the efficiency of cooperation with international financial organizations and member countries of the World Bank and the IMF", Sergii Marchenko commented.

Every year, the Bank and the Fund select the Chair of the Boards of Governors on a regional rotation basis. In 2023, the Chairmanship will rotate to Europe and Central Asia member countries.

Among the main functions is chairing the Annual Meetings attended by finance ministers and central bank governors of the IMF and World Bank member countries, the IMF and World Bank leaders. 

At the same time, the Chair of the Boards of Governors shall be head of the Joint Committee on Remuneration of Executive Directors and their Alternates, the Joint Procedures Committee and the Multilateral Investment Guarantee Agency Procedures Committee.