66094
  FROM:        Vice President and Corporate Secretary

 

 
                               Minutes of Meeting of the Board of Directors of IFC,
                      held in the Board Room on Thursday, December 8, 2011, at 10:04 a.m.

 

 
    1.      There were present:
                                                                CHAIR:

                                              L. Thunell, Executive Vice President

  EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:

  A.     Ahmed (Temporary Alternate)                            M.      Kelleher (Temporary Alternate)
  I.     Alturki (Alternate)                                    I.      MacDonald (Temporary Alternate)
  D.     Bohan (Alternate)                                      A.      Mendes Dias
  A.     Brandt                                                 S.      Mirjalili (Temporary Alternate)
  P.     Cipollone                                              K.      Panov (Temporary Alternate)
  V.     Dhanpaul (Alternate)                                   M.N.    Prasad
  A.     Fernandez (Temporary Alternate)                        W.      Rissmann (Alternate)
  J.     Frieden                                                H.A.    Taha
  M.     Garcia                                                 A.      Touret-Blondy (Alternate)
  M.     Hasan                                                  R.      Treffers
  K.     Huber                                                  J.      Whitehead
  R.     Ito (Temporary Alternate)                              S.      Yang
  S.     James (Alternate)

 
    ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:
 
  A. Alkaffas                       B. Han
  K. Aminul Islam                   D. Kalyalya
  J.J. Bravo                        M.S.Kayad
                        
  OFFICERS AND STAFF PARTICIPATING:

    A. Peuker, Acting Corporate Secretary                       S.     Kozhukhov, CMGCS
    F.    Zeidan, Acting General Counsel, CLELM                 L.     Shalamberidze, CFGIF
    R.-R. Kaldany, Vice President, CGIVP                        E.     Sterlin, CMGCS
    K.A. Ahmed, Director, CF3DR                                 E.     Strawderman, CF3F8
    G. Ellena, Director, CM3DR                                  R.     Krech, Corporate Secretariat




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contents may not otherwise be disclosed without World Bank Group authorization. 
 
                                                                   -2-


  Southern Europe Region - Investment in Triglav INT Holdinska Druzba d.d.

  2.       The Board of Directors considered the President's Memorandum and a Report on an investment
  in Triglav INT Holdinska Druzba d.d. in the Southern Europe Region (IFC/R2011-0317, dated
  November 23, 2011) and adopted the following resolution:

                                             RESOLUTION NO. IFC 2011-0064

            RESOLVED:

            (A)     THAT the Corporation be authorized to conclude the transactions outlined in
                    paragraph 7.1 of the Report substantially on the terms therein set forth; and
 
            (B)     THAT the President, Executive Vice President, a Vice President, a Department
                    Director, the General Counsel or a Deputy General Counsel, or any staff member
                    of the Corporation authorized by any one of them, enter in the name and on behalf
                    of the Corporation, into an agreement or agreements providing for such
                    transactions and containing such other terms and conditions as he or she, by the
                    execution thereof, shall approve.

  Russian Federation - Investment in Medicina Equity

  3.       The Board of Directors considered the President's Memorandum and a Report on an investment
  in Medicina Equity in the Russian Federation IFC/R2011-0291; /3, dated October 28 and November 22,
  2011, respectively) and adopted the following resolution:

                                             RESOLUTION NO. IFC 2011-0065

            RESOLVED:

            (A)     THAT the Corporation be authorized to conclude the transactions outlined in
                    paragraph 7.1 of the Report substantially on the terms therein set forth; and
 
            (B)     THAT the President, Executive Vice President, a Vice President, a Department
                    Director, the General Counsel or a Deputy General Counsel, or any staff member
                    of the Corporation authorized by any one of them, enter in the name and on behalf
                    of the Corporation, into an agreement or agreements providing for such
                    transactions and containing such other terms and conditions as he or she, by the
                                     
                    execution thereof, shall approve.

    Mr. Solomon wished to be recorded as abstaining.

    4.     The Board of Directors recorded its authorization for Management to proceed with the following
    investments under the Streamlined Procedure:

       (a) Peru - an investment in La Positiva Vida Seguros y Reaseguros SA (IFC/R2011-0304, dated
           November 9, 2011) in the form of equity of up to US$10 million, authorized on November 21,
           2011.



This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its
contents may not otherwise be disclosed without World Bank Group authorization. 
 
                                                                   -3-


 
       (b) China - an investment in Jiangxi Jinyuan Agriculture Development Company Limited
           (IFC/R2011-0306, dated November 15, 2011) in the form of equity of up to US$8 million and an
           "A" loan of up to US$12 million, authorized on November 29, 2011.
 
       (c) Mexico - Investment in Universidad Autonoma de Guadalajara AC (IFC/R2011-0310, dated
           November 18, 2011) in the form of an "A" loan of up to MXN 585 million (US$43 million
           equivalent), authorized on December 2, 2011.
 
    Minutes of Previous Meetings
 
  5.      The Board of Directors recorded its approval on December 1, 2011 of the Minutes of meetings
  held on November 10 (IFC/M2011-0055) and November 17, 2011 (IFC/M2011-0057), respectively.

  Adjournment

  6.        The meeting adjourned at 11:30 a.m.

 

 

 

 

 

 

 

 

 

 

                                          




This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its
contents may not otherwise be disclosed without World Bank Group authorization.