The Committee comprises six members of the Board, including four regional members (at least three of whom must be from borrowing member countries) and two nonregional members. The President appoints the members of the Committee, in consultation with the Board, and designates the Chairman of the Committee. Each member of the Committee is appointed for a term of two years, except that three members of the initial Committee were appointed for one-year terms. If a member of the Committee ceases to be a member of the Board of Directors before the completion of the member's term on the Committee, the President, in consultation with the Board, will appoint a replacement.