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The Executive Board is IFAD's second main Governing Body, consisting of 18 elected Members and 18 Alternate Members. The Executive Board sessions are chaired by the President of IFAD.
The Executive Board has full authority to decide on the programme of work; approve projects, programmes and grants; and adopt or recommend (pending the final approval of the Governing Council) action on matters related to policy, the annual administrative budget, applications for membership and staffing within the Fund.
The Members and Alternate Members are elected for a three-year term of office within their respective Lists and Sub-Lists, and are approved by the Governing Council:
- List A (former Category I)
- List B (former Category II)
- List C (former Category III) and within List C:
- Sub-List C1 for Countries in Africa
- Sub-List C2 for Countries in Europe, Asia and the Pacific
- Sub-List C3 for Countries in Latin America and the Caribbean
The Members and Alternate Members in the respective Lists represent other constituents of that List. The total number of votes in the Executive Board depends on both membership and contributions, and reflects the total voting power of all Member States.
At its seventy-eighth session, the Executive Board adopted the IFAD Evaluation Policy, which made the Office of Evaluation’s work independent of IFAD management. In this respect, the Office of Evaluation Director is now directly responsible to the Executive Board, which oversees the work of the Office.
The Board meets three times a year, in April, September and December. Exact dates are determined by the Board.