As the country’s official representative to the World Bank, the Department of Finance has been regularly seconding key personnel to the Bank’s Board of Directors.
Currently, Finance Assistant Secretary Ma. Lourdes Recente serves as Adviser to the Executive Director representing the Philippines and other countries with which we share a seat in the Bank’s Board of Directors – Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Suriname, and Trinidad and Tobago.
Starting November 2012, for a term of two years, the Philippines will serve as the Executive Director or the group’s representative to the Board of Directors. To serve this critical task, National Treasurer Roberto Tan was nominated and elected by other members of the group.
â€œI have seen Treasurer Tanâ€™s commitment to public service and I am confident he will ably represent our constituency in the Board of Directors of the International Bank For Reconstruction and Development,â€ said Finance Secretary Cesar Purisima.
The Executive Directors are responsible for the conduct of the general operations of the WBG, and consider and decide on loan and credit proposals made by the World Bank President, and they decide policy issues that guide the general operations of the Bank.
Many officials of the Department of Finance were also seconded previously to the World Bank, including Undersecretaries Jeremias Paul and Gil Beltran and Assistant Secretaries Soledad Cruz, Ma. Teresa Habitan and Ma. Edita Tan, to represent the Philippines.
Pending the appointment of a new National Treasurer, Deputy Treasurer Gisela Lood will be the Officer-in-charge of the Bureau of Treasury.
Tanâ€™s service at the Department of Finance started as Director of Policy Operations in 1991 under the International Finance Group and was eventually appointed as Undersecretary for the said group in 2005. He was subsequently appointed to his current position, as National Treasurer, in 2008. As Treasurer, he oversees the accounts of the Philippine government as well as its cash management and domestic borrowing operations. He also served as advisor to the Executive Director and Board of Directors of the Asian Development Bank. His professional background includes consumer finance, management consulting, and export promotion and research. Tan obtained his MA and Doctoral Studies in Economics from Fordham University in New York, and his MBA from the Ateneo de Manila University where he also obtained his Bachelor of Arts in Economics.