July 22, 1946 (20th Parliament, 2nd Session)


Mr. MAYHEW: (Parliamentary Assistant to the Minister of Finance)


1. (a) Board of Governors and Alternates- Country-Governor-Alternate
Belgium: Franz De Voghel, Maurice Frere.
Bolivia: Franklin Antezana Paz.
Brazil: Francisco Alves dos Santos-Filho, Edgard de Mello.
Canada: James L. Usley, Graham F. Towers.
Chile: Arturo Maschke.
China: 0. K. Yui, Tr-Liang Soong.
Costa Rica: Julio Pena Morua, Angel
Coronas Guarda.
Cuba: Joaquin E. Meyer.
Czechoslovakia: Alois Krai, Joseph Hanc.
Denmark: Carl Valdemor Bramsnaes, Erling Sveinbj ornsson.
Dominican Republic: Jesus Maria Troncoso, Jose Calzada.
Ecuador: Esteban F. Carbo.
Egypt: Ahmed Zaki Bey Saad1, Mahmoud Saleh El-Falaki.

El Salvador: Frederico Vides, Manual
Ethiopia: George A. Blowers.
France: Robert Schuman, Pierre Mendes-France.
Greece: Xenophon Zolotas, Alexander
Guatemala: Manuel Noriega Morales,
Leonidas Acevedo.
Honduras: Julian R. Caceres, Jorge Fidel Duron.
Iceland: Magnus Sigurdsson, Thor Thors.
India: Chintaman Desmukh, N. Sundaresan.
Iran: Abol Hassan Ebtehaj, Taghi Nassr.
Iraq: Ali Jawdat, A. M. Gailani.
Luxembourg: Pierre Dupong, Hugues Le Gallais.
Mexico: Antonio Espinosa de los Monteros, Luciano Wiechers.
Netherlands: P. Lieftinck, A. M. de Jong.
Nicaragua: Guillermo Sevilla Sacasa.
Norway: Gunnar Jahn, Ole Colbjornsen.
Panama: Juan Jose Vallarino.
Paraguay: Harmodio Gonzalez, Ruben
Philippine Commonwealth: Jose S. Reyes, Joseph H. Foley.
Poland: Waclaw Konderski, Janusz
Union of South Africa: Jan Hendrik Hof-meyr, M. H. de Kock.
United Kingdom: Hugh Dalton, Sir James Grigg.
United States of America: John W. Snyder, William L. Clayton.
Uruguay: Hugo Garcia.
Yugoslavia: LavoslavDolinsek,Ivan Randic.
Peru: Carlos Montero Bernales, Jose Bar-reda Moller.
(b) Appointed Executive Directors: Emilio G. Collado, Sir James Grigg, Pierre Mendes-France, Yuen-Ting Shen, N. Sundaresan.
Elected Executive Directors: Leon Baranski, J. W. Beyen, R. B. Bryce, Hubert Ansiaux, Luis Machado, Victor Moller, Kyriakos Varvaressos.
(c) Eugene Meyer.
2. The remuneration to be paid to the directors and the salary to the president are provided for in the by-laws of the International bank for reconstruction and development as approved by the board of governors, as follows: Section 14-terms of service:
(c) The salary of the president shall be $30,000 per annum. The bank shall also pay any reasonable expenses incurred by the president in the interest of the bank (including travel and transportation expenses for himself, and expenses for his family, and his personal effects in moving once to the seat of the bank

during or immediately before his term of office and in moving once from the seat during or immediately after his term of office). The terms of contract of the president shall be five years.
(e) The maximum salary and expense allowance, including housing, entertainment and all other expenses except those specified in subsection (f) shall be $17,000 for executive directors and Sltl,500 for alternates. It will be the duty of each executive director and each alternate to state how much of these amounts he intends to draw whether as salary or as expense allowance.
(f) The executive directors and their alternates are to be reimbursed, in addition, for all reasonable expenses incurred during absence from the seat of the bank while on the designated service of the bank. They shall also be reimbursed for travel and transportation expenses for themselves, their families, and their personal effects in moving once to the seat of the bank during or immediately before their terms of office and in moving once from the seat during or immediately after their terms of office.
(g) Where not specified, it is assumed that the direction and alternate will be a full-time director and alternate. Where it is intended that he shall not devote his full time, it shall be so indicated. Where an executive director or alternate indicates that he intends to devote only part of his time to the bank, his remuneration shall be pro-rated on the basis of a representation by him of the proportion of his time he has devoted to the interests of the bank. He may make such representation each month.
(h) Where an individual is serving both fund and bank, the aggregate of salary received from both shall not exceed the full annual single salary indicated above.
The Canadian director of the bank devotes only part of his time to the bank and, in accordance with the instructions given him by the governor for Canada, draws only sufficient of the maximum salary and expense allowance to which he is entitled to cover Ids expenses while away from Ottawa on the business of the bank.

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