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Senior IAS officer Subhash Chandra Garg was today appointed as Executive Director (ED) in World Bank.
Garg, a 1983-batch IAS officer of Rajasthan cadre, will have a tenure of three years from the date of assuming charge of the post, said an order issued by the Appointments Committee of Cabinet (ACC).
The Executive Directors are responsible for the conduct of the general operations of the World Bank and exercise all the powers delegated to them by the Boards of Governors. They also select a President who serves as Chairman of the Boards.
They are responsible for International Bank for Reconstruction and Development’s loans, guarantees and policies that impact the World Bank’s general operations among others.
Garg is presently serving in Rajasthan.
The ACC had last month approved the proposal for extension of tenure of M N Prasad, a 1972 batch IAS officer of Bihar cadre (retired), as Executive Director, World Bank till October 31.
The order for Prasad’s appointment was issued on July 26, 2011 for three years. Prasad was then working as Secretary to former Prime Minister Manmohan Singh.
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