74555   FROM: Vice President and Corporate Secretary     Minutes of Meeting of the Board of Directors of IFC, held in the Board Room on Thursday, November 15, 2012, at 10:02 a.m.       1. There were present: CHAIR:   R.-R. Kaldany, Vice President, CGIVP   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   A. Ahmed (Temporary Alternate) I. Hoven   M. Al-Sheikh S. James (Alternate) G. Alzetta D. Kalyalya   S. Annamalai A. Kane (Temporary Alternate) S. Aviel (Alternate) A. Lamrani (Temporary Alternate)   J. Baeten (Temporary Alternate) M.-L.Morin A. Brandt N. Mota Pinto (Alternate)   J.J. Bravo H. Suzuki A. Fayolle R. Tan   C.G.Forcieri A. Thakur (Temporary Alternate) J. Frieden J. Whitehead   V. Grishin S. Yang M. Hasan   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   A. Alkaffas R. Raineri   I. Alturki W. Rissmann G. Balcytyte W. Szczuka   M.S. Pamuksuz     OFFICERS AND STAFF PARTICIPATING: J. Familiar, Vice President and K. Dowers, CFGRF Corporate Secretary A. Harwood, FCMSM D. Harris, Acting Vice President X. Jordan, CFGRF and General Counsel, CLVVP M. Narayanaswamy, CFGPE W. Bulmer, Director, CESDR R. Krech, Corporate Secretariat J. Scriven, Director, CFGDR 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.    -2-   Welcome to New Alternate Executive Director   2. The Chair welcomed Mr. Ricardo Raineri who was attending his first meeting as Alternate Executive Director.   World Region - Investment in AllianceBernstein Next 50 Emerging Markets Master Fund (N-50   Fund), L.P.   3. The Board of Directors considered the President's Memorandum and a Report on an investment in the AllianceBernstein Next 50 Emerging Markets Master Fund (N-50 Fund), L.P. in the World Region   (IFC/R2012-0347, dated November 5, 2012) and adopted the following resolution:   RESOLUTION NO. IFC 2012-0069   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, the Executive Vice President, a Vice President, the Vice   President and General Counsel, the Deputy General Counsel, a Department Director, 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. Grishin 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) Ukraine - an investment in FE “Integrated Agrosystems” (IFC/R2012-0326, dated October 18,   2012) in the form of an "A" loan of up to US$16 million, authorized on October 30, 2012.   (b) Uganda - an investment in Umeme Limited (IFC/R2012-0330, dated October 22, 2012) in the form of equity of up to US$10 million, authorized on November 1, 2012.   (c) Democratic Republic of Congo, Nigeria, and Tanzania - investments in FINCA Africa   (IFC/R2012-0331, dated   October 23, 2012) each in the form of a senior loan of up to US$4 million in the Democratic Republic of Congo, a senior loan of up to US$2 million in Nigeria, and a senior loan of up to US$3 million in Tanzania, authorized on November 2, 2012. (d) Nigeria - an investment in LAPO Microfinance Bank Limited (LAPO MFB Loan) (IFC/R2012-0332, dated October 24, 2012) in the form of a loan of up to NGN 800 million (US$5 million equivalent), authorized on November 5, 2012. 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-   (e) Southern Europe Region - investments in Atlantic Trade d.o.o. Zagreb in Croatia, Grand Prom   d.o.o. in Serbia, and Droga Kolinska d.d. in Slovenia, (IFC/R2012-0333, dated October 25, 2012) each in the form of a senior loan of up to EUR 15.8 million (US$20.5 million equivalent) in   Croatia, a senior loan of up to EUR 11.3 milion (US$14.7 million equivalent) in Serbia, and a senior loan of up to EUR 22.9 million (US$29.8 million equivalent) in Slovenia, in the aggregate   amount of up to EUR 50 million (US$64.9 million equivalent), authorized on November 6, 2012.   (f) Jordan - an investment in Middle East Micro Credit Company (MEMCC II) (IFC/R2012-0334, dated October 25, 2012) in the form of a senior loan of up to US$2 million equivalent, authorized   on November 6, 2012.   (g) Turkey - an investment in Metropolitan Municipality of Izmir (Izmir Muni) (IFC/R2012-0336, dated October 25, 2012) in the form of a senior "A" loan of up to EUR 45 million (US$58.5   million equivalent), authorized on November 6, 2012.   (h) Colombia - an investment in CrediValores - Crediservicios S.A.S. (IFC/R2012-0335, dated October 26, 2012) in the form of a Colombian peso-linked loan of up to US$25 million,   authorized on November 7, 2012.   (i) World Region - an investment in Global Export Finance Advisory GmbH (GEFG) (IFC/R2012-0337, dated October 26, 2012) in the form of equity of up to EUR 160,000   (US$208,280 equivalent), authorized on November 7, 2012.   (j) India - an investment in Apollo Tyres Limited (IFC/R2012-0339, dated October 31, 2012) in the form of equity of up to US$25 million, authorized on November 8, 2012.   (k) China - an investment in Bank of Jiangsu Company, Limited (IFC/R2012-0340, dated October   31, 2012) in the form of an unfunded risk-sharing facility of up to RMB 462 million (US$73 million equivalent) for a portfolio of up to RMB 924 million (US$146 millon equivalent),   authorized on November 12, 2012. Mr. Solomon (via email dated November 9, 2012) wished to be recorded as abstaining).   Minutes of Previous Meeting   5. The Board of Directors recorded its approval on November 12, 2012 of the Minutes of the   meeting held on October 18, 2012 (IFC/M2012-0065).   Adjournment   6. The meeting adjourned at 11:11 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.