Katayama Nominated Next Development Committee Chair
Finance Minister Katayama has been nominated as the next Chair of the World Bank-IMF Development Committee. Formal selection is expected at the Committee meeting in Bangkok, Thailand, on the 15th of this month. 1
The term runs for two years, from the end of the Bangkok meeting until October 2028. 1
This is the first time a Chair has been selected from Japan since the Committee was established in 1974. 1
Japan says it will contribute more actively to the Committee's operations under the new Chair and continue to support World Bank and IMF efforts on development issues. 1
The Committee was set up in 1974 to give advice and reports to the World Bank and IMF on development issues. It has 25 ministerial-level members, normally from countries that elect a World Bank or IMF director, and usually meets twice a year, in spring and autumn. 1