Bank Executive Directors Widen Investigation

April 20, 2007—The Executive Directors met on April 19 to address the current situation in the Bank, which is of great concern. Based on the clear guidance of the Development Committee, the Executive Directors agreed on a process to deal with the situation urgently, effectively, and in an orderly manner.

Having reviewed the April 11 report of the Executive Directors’ ad hoc group and the associated documents, the Executive Directors discussed questions related to conflicts of interest and possible violations of Staff Rules. They identified a number of issues requiring further consideration.

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