Article 16

In accordance with the fourth subparagraph of Article 9(2) of the Statute, the Board of Directors shall co-opt six non-voting experts: three as full members and three as alternates.

The President shall propose to the Board of Directors the full member candidates and the alternate candidates, for a period expiring at the end of the directors' term of office.

These candidates shall be chosen from among persons having a qualification and proven experience in a field relating to the Bank's activities.

The Board of Directors shall approve the President's proposal in accordance with the procedure provided for in the first sentence of Article 10(2) of the Statute.

The co-opted experts shall enjoy the rights of the non-voting members of the Board of Directors and shall be subject to the same obligations.