Artikel IV

Section 1. Composition. Each Donor may participate in and appoint a representative to meetings of the Donors Committee.
Section 2. Responsibilities. The Donors Committee shall be responsible for the final approval of all proposals for operations of the Fund and shall seek to maximize the Fund’s comparative advantage through operations with high developmental benefits, efficiency, innovation, and impact in accordance with the functions of the Fund as specified in Article I, Section 2. The Donors Committee shall consider operations that follow such functions and decline to consider, or phase out, those that do not.
Section 3. Meetings. The Donors Committee shall meet at the principal office of the Bank as often as the business of the Fund requires. The Secretary of the Bank (serving as Secretary of the Committee) or any Donor may call a meeting. As necessary the Donors Committee shall determine its organization, rules of operation and procedure. A quorum for any meeting of the Donors Committee shall be a majority of the total number of representatives representing not less than four-fifths of the total voting power of the Donors. Prospective Donors may attend meetings of the Donors Committee as observers.
Section 4. Voting. a) The Donors Committee shall attempt to reach decisions by consensus. In cases where a decision cannot be reached by consensus after reasonable efforts, and unless otherwise specified in this MIF II Agreement, the Donors Committee shall reach decisions by a three-quarters majority of the total voting power.
b) The total voting power of each Donor shall consist of the sum of its proportional votes and its basic votes. Each Donor shall have one proportional vote for each one hundred thousand United States dollars which it has contributed in cash, notes or similar securities (or the equivalent thereof in other freely convertible currencies) under Article II, Section 2 of this MIF II Agreement and under Article II, Section 2 of the MIF I Agreement. Each Donor shall also have basic votes consisting of such number of votes as results from the equal distribution among all the Donors of a number of votes equal to 25% of the aggregate proportional votes of all the Donors.
Section 5. Reporting and Evaluation. When approved by the Donors Committee, the annual information statement submitted under Article V, Section 2(a) of the MIF II Administration Agreement shall be forwarded to the Bank’s Board of Executive Directors. Anytime after the first anniversary of the MIF II Effective Date, and at least every five years thereafter, the Donors Committee shall request an independent evaluation by the Bank’s Office of Evaluation and Oversight, payable with resources of the Fund, to review Fund results in light of the purpose and functions of this MIF II Agreement; this evaluation shall continue to include an assessment of the results of project groups, based on benchmarks and indicators, for aspects such as relevance, effectiveness, efficiency, innovation, sustainability and additionality, and progress with regard to the implementation of recommendations approved by the Donors Committee. Donors shall meet to discuss each such independent evaluation no later than the following annual meeting of the Board of Governors of the Bank.